The snake is out of the grass and in the open, wrapping around the household budgets of Americans. It is squeezing out more money for gas, food and furniture, among other things.
The hawk is circling, readying itself to swoop in and snatch the snake — or at least scare it back into the underbrush.
In the wild kingdom of the U.S. economy, the Federal Reserve has set its sights on inflation. There is no doubt the central bank has turned hawkish about fast-inflating price trends. The hawk gets another look at the snake in the week ahead.
