Knightley: Price pressure in the USA

US inflation is on the rise and could potentially spark pressure on the American economy that we haven't seen in a generation. That's certainly the view of the former Treasury Secretary, Larry Summers and it's put President Biden and the current Treasury Secretary, Janet Yellen firmly on the back foot, according to ING's James Knightley in New York. James says we could even see inflation testing 4% in the coming few months not least because of the promised coronavirus stimulus measures and Biden's Build Back Better programme that could pump trillions into the economy.