Inflation remains steep, hitting its highest level since 1981, and economic growth is sluggish.
Why it matters
Higher prices mean that groceries, gas and food are more expensive, and a slow economy means it’s harder for Americans to earn money, spend and save.
More interest rate hikes are expected throughout the year, and experts worry the US may be headed toward a recession.
As inflation continues to dog the US economy, concerns about a recession and even possible stagflation grow. Stagflation — a term that defines…