High Inflation Impacting Average Americans The Most: How Will The Fed React To The Next Inflation Report?

In the month of June, U.S. households faced inflationary pressures not seen since the 1980s, causing consumers to spend more money on fewer goods.

What Happened: On Friday, the Bureau of Economic Analysis reported a 1.1% increase in consumer spending, which correlates with the highest consumer price index recorded for the month of June of 1.3%.