Signs of record-high inflation are unavoidable with food and fuel seeing the highest price jump, according to one analyst.
are unavoidable. Food prices are up 10%, new vehicles 12.5% and gasoline almost 50% compared to last year, according to the U.S. Bureau of Labor Statistics.
"Russia invaded Ukraine, Russia is a huge supplier of oil, people aren't buying as much oil from Russia, so that's a big part of it," said Goldstein. Goldstein said that while food and gas are in demand, workers are as well — right now for every American looking for a job, there are two job openings.
At the time, one of the few people who warned that stimulus checks brought inflation risks was former Treasury Secretary Larry Summers.
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