BIDENFLATION: Producer inflation accelerated in August, as wholesale prices rose record 8.3% from a year ago. “The data comes amid heightened inflation fears fed by supply chain issues, a shortage of various consumer and producer goods and heightened demand related to the Covid-19 pandemic. Federal Reserve officials expect inflationary pressures to ease through the year, but they have remained stubbornly persistent, with Friday’s numbers indicating that the trend likely will continue.”

Previously: Federal Reserve calls inflation ‘transitory’ as it keeps interest rates near zero.