The latest consumer prices report is expected to show annual inflation in April was a little lower than the month before — cold comfort to people whose paychecks don't go as far as they used to.
Higher costs for food, labor, rent, gasoline and cooking gas make it harder for casual dining places to buy, cook and deliver meals. And they're limited in how much they can pass on to customers.
In an address from the White House Tuesday, President Biden contrasted his administration's plans to tackle rising costs with what he called Republicans' "ultra-MAGA" plan.
Cook is only the second of Biden's five nominees for the Fed to win Senate confirmation. His Fed choices have faced an unusual level of partisan opposition.
Ahead of the midterm elections, President Biden is using Donald Trump's "Make America Great Again" as a label to paint the GOP as extreme on issues including the economy and abortion rights.
Gas prices surged to a national record, not adjusted for inflation, surpassing the previous milestone hit around two months ago. It comes just ahead of the key summer driving season.