NPR.

Yesterday, the Federal Reserve announced that it was keeping interest rates on hold.

The central bank wasn't taking any strong action this time round to combat rising prices,

even though inflation is high at 4.2%.

All of this makes persistent inflation more likely.

The new Fed chair, Kevin Warsh, claims he's going to shake things up.

He set up several task forces to help him do that.

But here he is at yesterday's press conference on his most immediate focus.

This committee will deliver price stability.

Kevin Ward said that the Fed he came into hadn't achieved that.

We recognize that inflation has been running well ahead of the Fed's long-stated inflation

goal of 2%.

That's been going on for more than five years.

And given that the Fed didn't raise interest rates

yesterday, could we be bracing ourselves for another inflationary wave? This is the indicator

from Planet Money. I'm Darien Woods. And I'm Whalen Wong. Today in the show,

inflation winners and losers. We ask whether we could be entering a new world of

high inflation, and we talk about who's going to benefit and who's going to hurt.

Mark Blythe is a political economist at Brown University. He's the co-author of Inflation,

a guide for users and losers.

And being from Scotland originally, Mark had some comments to make about my name.

The Darien Project is what bankrupted Scotland and led to the Act of Union.

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