While the Fed has reiterated that the spike in inflation would be transitory, investors fear that a bigger-than-expected surge could push the central bank into tightening policy earlier than signaled.
The labor market and inflation are two key factors for the Fed to consider tightening, and while inflation has risen, recent payrolls data was underwhelming.
U.S. S&P 500 E-minis were up 3 points, or 0.07% at 06:36 a.m.
Dow E-minis were up 81 points, or 0.24%, while Nasdaq 100 E-minis were down 35.75 points, or 0.26%.
Focus was also on a major infrastructure spending bill, talks over which hit a deadlock in the Senate.
Ambar Warrick, Maju Samuel
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