Inflation rises above 4% for the first time in 3 years

A spike in gasoline prices has pushed inflation up 4.2% from a year ago, the biggest annual increase since April 2023.

For more on why and what the impact is likely to be, host Scott Tong speaks to Loretta Mester, who was president and CEO of the Federal Reserve Bank of Cleveland from 2014 until 2024. She's now with The Wharton School at the University of Pennsylvania.