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Inflation in the United States is rising at its fastest rate so far this century. At 4 percent, according to one index, it is double the Federal Reserve’s target.

We look at why prices are on the rise and at the tense political moment they have created.

Guest: Jim Tankersley, a White House correspondent for The New York Times. 

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Background reading: 

• Supply chain disruptions, a worker shortage and pain at the gasoline pump have made inflation an economic and political problem for the White House.
• Pressure is on the Federal Reserve and the Biden administration as they try to calibrate policy during a tumultuous period.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. 

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