Prices are jumping as the economy rebounds from the pandemic, but the Biden Administration and the Federal Reserve say a return to 1970s-style inflation is unlikely.

Americans continue to say they approve of how the president is handling the coronavirus pandemic, but he may be running into speed bumps because of inflation and other issues.

Prices for a range of goods from used cars to bacon surged last month, pushing consumer inflation to 4.2% in April, the highest since September 2008.

Consumer prices jumped last month as businesses struggled to keep pace with booming demand, but the Biden administration and the Federal Reserve say the uptick in inflation is likely to be temporary.

Hiring by U.S. employers accelerated sharply amid an improving public health outlook and a new round of $1,400 relief payments.

Backers of the president's ambitious stimulus plan say it will help struggling families and businesses, but critics say it goes too far.

Powell warned it will take time to put millions of jobless Americans back to work, while also downplaying inflation threats.

Demand for bus travel has dropped sharply during the pandemic, jeopardizing an industry that ordinarily serves many lower-income travelers.

Consumer prices rose 0.4% in August and 1.3% over the last 12 months. Some economists say that official measure understates inflation, because the pandemic has changed both what and how we buy.

The Federal Reserve is adjusting its long-range policy on inflation and employment. The central bank said it's now more concerned with prices that are too low than with runaway inflation.