Economic pressures are building as Gov. Phil Murphy and Democratic lawmakers in New Jersey enter the final days of budget negotiations before the new fiscal year begins July 1. After a slight reprieve from rising prices in April, New Jersey residents are confronting another spike in costs for food, gas and a range of other basic goods. U.S. inflation hit a new 40-year high of 8.6% in May, fueling concerns that the Federal Reserve may need to get more aggressive in its efforts to tame rising costs. The surprise jump in prices spooked investors, sending U.S. stocks intobear market territory — a …
