Warren Buffett says these are the best stocks to own when inflation spikes — with high prices no longer ‘transitory,’ it might be time to follow his lead

After months of rising prices, the Fed’s claim that high inflation rates would be “transitory” is looking a bit transitory itself.

“It’s probably a good time to retire that word and try to explain more clearly what we mean,” Fed Chairman Jerome Powell said Tuesday. “I think the risk of higher inflation has increased.”

A…