With the U.S. economic recovery now well under way, one of the more heated debates between economists and policymakers and a discussion that may seem irrelevant and confusing to the general public is whether the price surges that have coincided with accelerating activity will be permanently higher or will those eventually pass. 

Some experts are sounding the alarm over rising inflation in the United States, despite assurances from the Federal Reserve.  

While the topic is dry, Jeff Powell and Jeremy Witbeck discuss how its resolution is of critical importance. Depending on the answer, mortgage costs could rise, stock prices could become more volatile, and the U.S. economy’s recent torrid growth could slow significantly.