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Inflation

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FRANKFURT, Germany (AP) — Facing unease over the spread of a more-contagious variant of the coronavirus, the European Central Bank said it would maintain its stimulus in the form of ultra-low interest rates until inflation “durably” reaches its 2% target.

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LONDON (AP) — The British government has tripled its pay increase offer for more than a million National Health Service employees in England, but unions said the proposed boost was insufficient given an anticipated spike in inflation.

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WASHINGTON (AP) — President Joe Biden said Monday that his infrastructure and families agenda must be passed to sustain the economic momentum of his first six months in office, aiming to set the tone for a crucial week of congressional negotiations on the two bills.

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WASHINGTON (AP) — For anyone watching with concern as prices surge for everything from food and gas to airplane tickets and clothes, the message from Federal Reserve Chair Jerome Powell over two days of congressional hearings this week was straightforward: Just give it more time and those price gains should slow, or even reverse.

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WASHINGTON (AP) — Prices for U.S. consumers jumped in June by the most in 13 years, evidence that a swift rebound in spending has run up against widespread supply shortages that have escalated the costs of many goods and services.

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