Inflation isn't going away any time soon and the Fed may have to clamp down on it even harder.

https://www.businessinsider.com/inflation-outlook-fed-interest-rates-markets-economy-investing-hikes-2022-5

• Data this week showed inflation in April was still running hot and may not have peaked.

• Wall Street watchers like Mohamed El-Erian and Bill Gross say the Fed will need to get tougher on inflation.

• The Fed's next policy meeting is in June, and could see it raise interest rates sharply.