Data: U.S. Bureau of Labor Statistics; Chart: Axios Visuals
There is no silver lining: May's inflation report is a disaster for the "soft landing" camp — policymakers and politicians hoping to tame inflation without an all-out recession. Prices rose 1% alone during the month, bringing the year-over-year increase to a fresh four-decade high.
Why it matters: The Fed will likely have to take more aggressive steps to cool demand broadly in the economy to tackle worsening inflation, which amplifies the risk of a sharp economic downturn.
