A customer pumps gas into their car at a gas station on May 18, 2022 in Petaluma, California.Justin Sullivan/Getty Images Inflation is still running at four-decade highs, but the potential solutions all have major drawbacks. Higher interest rates are the Fed's top tool for cooling inflation, but they could spark a recession. Options for lowering gas prices are either geopolitically fraught or too short-sighted. Pick your poison.
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bwinck@businessinsider.com (Ben Winck), Business Insider
Sat, 06/25/2022 - 4:40am
Topics: petaluma california justin sullivan/getty images inflation higher options pick skyrocketing federal reserve federal open market committee fed chair jerome powell july new york fed americans marketplace covid-19 china ukraine february uk european union russia kremlin west putin president joe biden saudi crown prince mohammad bin salman jamal khashoggi democratic mbs sen tim kaine virginia insider's joseph zeballos-roig saudis sen ron wyden oregon house speaker nancy pelosi republicans jason furman obama twitter business insider us fed june biden congress march saudi arabia good solution gas prices rates supply tax slow price spending growth energy oil demand problem administration relief top country running cooling hikes economy levels year gallon pain surge raising highs turn costs share holiday interest card lowering labor allies chains tool sector credit fighting sits measures visit told concerns lead evidence left record gasoline quickly idea rate shift cent imbalance historic paying
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