Latest US inflation data raises questions about Fed’s interest rate hikes

Experts say raising rates isn't working' and that the real culprits are corporate pricing, energy costs and supply chain

A fresh round of US inflation data released last week showed persistently high prices, raising more questions about whether the Federal Reserve's interest rate hikes are missing what many economists contend are the real inflationary culprits: corporate pricing, energy costs and supply chain disruptions.

The news is further stirring fears of unnecessary economic pain should the Fed push America into recession.