Inflation at 40-year high pressures consumers, Fed and Biden

FILE - Housing activists march across town toward New York Gov. Kathy Hochul's office, calling for an extension of pandemic-era eviction protections, Tuesday, Aug. 31, 2021, in New York. Prices paid by U.S. consumers jumped in December 2021 compared to a year earlier, the latest evidence that rising costs for food, gas, rent and other necessities are heightening the financial pressures on America's households.