About half the Fed's policymakers forecast the first rate hike would be in late 2022
Production disruptions, high demand, push energy prices higher
Consumer spending growth slows as incomes drop, BMO reports
While it's not a given that inflation will hurt banks, there are risks
Meanwhile, the BoC's latest quarterly report suggests people will spend some of the savings they've amassed
Federal Reserve Chair Jerome Powell expects that inflation will remain elevated well into next year
Weaker GDP data and higher inflation have muddled the picture
The pace of rising prices hit its highest level since February 2003
Investors will also need to watch how wage pressure cuts into profits
Consumers say they expect inflation to slow once the pandemic ends