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Data: St. Louis Fed; Chart: Dion Rabouin/Axios Visuals

Warren Buffett became the latest big name to weigh in on inflation, telling viewers of the Berkshire Hathaway annual shareholder meeting this weekend that he and his team are "seeing substantial inflation."

Why it matters: Concern about inflation is growing louder and becoming more pronounced among investors and the general public, even as the Fed and many mainstream economists insist price hikes will be temporary and are not worrisome.

What he's saying: "People have money in their pocket, and they pay higher prices... it's almost a buying frenzy," Buffett said.

  • "We are raising prices. People are raising prices to us, and it's being accepted."

Of note: Buffett's Berkshire Hathaway bought back $6.6 billion in shares of its own stock after a record $27.4 billion in repurchases last year, adding to the boom in stock buybacks I wrote about late last month.

About the chart: The Fed discontinued its weekly M2 money supply reporting for some reason, however, the monthly chart, updated Tuesday, showed U.S. money stock reaching just below $20 trillion in March.

Go deeper

Warren Buffett denounces SPACs and Robinhood at Berkshire Hathaway meeting

Warren Buffett during a 2017 event in New York City. Photo: Daniel Zuchnik/WireImage

Warren Buffett called SPACs a "killer" and criticized stock-trading app Robinhood for encouraging gambling during Berkshire Hathaway's annual meeting in Los Angeles Saturday.

Why it matters: The criticism by Buffet comes as SPACs, or special purpose acquisition companies, and Robinhood have been facing scrutiny from regulators after soaring in popularity over the past year.

Updated 3 hours ago - World

Death toll mounts as fighting between Israel and Hamas intensifies

Palestinian Muslims exchange wishes for Eid al-Fitr, marking the end of the holy month of Ramadan, near a razed building in the northern Gaza Strip town of Beit Lahia, on May 13. Photo: Majdi Fathi/NurPhoto via Getty Images

At least 109 Palestinians and seven people in Israel have been killed since recent fighting between Israel's military and Hamas began Monday.

The big picture: Israel began massing troops on its border with Gaza on Thursday, launching attacks from the air and ground as Hamas continued to fire rockets into Israel.

By the numbers: Where the earmarks are wanted

Expand chart
Data: House Committee on Appropriations; Chart: Danielle Alberti/Axios

The Dallas-Fort Worth area is being targeted for the largest collective earmark request in the country, according to a detailed breakdown of overall requests released by the House Appropriations Committee.

Why it matters: House appropriators are trying to balance bipartisan momentum for infrastructure investment with "pork-barrel" spending's checkered political history. The data dump is an effort to provide transparency for what are now termed "community project funding" requests.