America's grocery squeeze has thus far been most painfully felt in a few expensive categories, like beef, coffee and chocolate.
Now, the forces pushing up food prices are starting to pile up: expensive grain, soaring fertilizer and fuel, plus unpredictable weather and raging wars.
Why it matters: The next grocery price shock could hit much harder — and much wider.
With markets wobbling and the world watching, Federal Reserve chairman Kevin Warsh went back to basics yesterday morning: He affirmed that the Fed is determined to get inflation down and may have to raise interest rates to accomplish it, Axios' Neil Irwin writes from Jackson Hole, Wyoming.
Why it matters: If the Warsh Fed follows through with rate hikes, it would increase borrowing costs for Americans and potentially put him in the crosshairs of the rate-cut loving president who appointed him.
