(Jun. 10) US inflation accelerated to a fresh 40-year high in May, indicating price pressures are becoming entrenched in the economy and shattering consumer confidence. The latest government inflation figures will likely push the Federal Reserve to extend an aggressive series of interest-rate hikes into the fall. For President Joe Biden and congressional Democrats, the data were a one-two punch as a separate report showed consumer sentiment plunged in early June to the lowest in data back to 1978. --- Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Subscribe to our newest channel Quicktake Explained: https://bit.ly/3iERrup Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30 Connect with us on… YouTube: null Breaking News on YouTube: null Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake