Why Inflation Is Starting to Spiral Again

Inflation is heating up again, and the Federal Reserve may be running out of easy answers.Mike Armstrong and Marc Fandetti break down the hotter-than-expected April CPI report as rising gas prices, higher shelter costs, and persistent inflation pressures push the economy closer to another potential inflation crisis.Also covered:Why the latest inflation report has economists increasingly worriedHow rising oil prices are feeding into food, housing, and consumer costsThe growing fear that inflation expectations are becoming embedded againWhy some analysts see uncomfortable parallels to the 1970sThe debate over whether the Fed has already lost credibilityWhy cutting gas taxes may do more harm than good long termHow higher mortgage rates are slowing the spring housing marketWhy workers are starting to lose ground again to inflationWhether the economy is moving closer to stagflationWhy inflation may be becoming far more difficult to control than policymakers expected.