Inflation expectations for next year surge to record high

Inflation expectations for the next year climbed for a seventh straight month in May to a record high, according to a new survey from the Federal Reserve Bank of New York.

Stocks waffle as inflation jumps, Fed meeting kicks off

U.S. stocks bounced between losses and gains in early trading as investors digested fresh data on inflation after producer prices jumped 6.6% the most on record. This as the Federal Reserve begins its two-day meeting with a decision due Wednesday.