Inflation continues to rise and reaches its highest point in 40 years, fueled by record gasoline prices.
To combat the increase, the Federal Reserve increased interest rates in the country.
American consumers are struggling to meet the rising costs of food and vital goods needed by their families.
On CNN Money, Xavier Serbiá analyzes with Sergio Urzúa, a professor at the University of Maryland, if the government of President Biden has alternatives to prevent inflation from continuing to rise.