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Fed’s preferred inflation gauge just hit the highest level in nearly three years Fast-rising gas prices lifted the Federal Reserve’s preferred inflation gauge to 3.5% in March, its highest rate in almost three years, new data showed Thursday. The Personal Consumption...... US economy showed solid growth in the first quarter as Iran war began Washington —  The US economy picked up steam in the beginning of the year as the United States and Israel launched a destabilizing war with Iran that has jacked up prices and is still...... Demand destruction: How the Iran war could rattle or break the US economy DEMAND DESTRUCTION \dɪˈmænd dɪˈstrʌkʃən\ n : The process by which persistent high prices or limited supply cause a permanent or sustained decline in the willingness or ability to purchase a good or...... Phil Mattingly and Richard Quest explain why higher gas prices are likely here for awhile On "Inside Politics," CNN's economic experts Phil Mattingly and Richard Quest break down the......