Prices KEEP rising….
All this good Economy stuff don’t mean a thing….
New poll has people more worried about this than ANYTHING else….
The Fed is gonna raise interest rates….
We can’t win…..
Indeed, 2021 went down as the worst year for inflation since 1982, as broken supply chains collided with high consumer demand for used cars and construction materials alike. Higher prices seeped into just about everything households and businesses buy, raising alarms for policymakers at the Federal Reserve and White House that inflation has spread throughout the economy….
Testifying before the Senate Banking Committee on Tuesday, Federal Reserve Chair Jerome H. Powell said it was essential to get prices down to more sustainable and stable levels to ensure a lasting recovery.
“If inflation does become too persistent, if these high levels of inflation become too entrenched in the economy or people’s thinking, that will lead to much tighter monetary policy from us, and that could lead to a recession and that would be bad for workers,” Powell told lawmakers.
In many ways, soaring inflation has overshadowed parts of the economy that made tremendous gains last year. The economy added a record-breaking 6.4 million jobs, booming past expectations, and the unemployment rate fell from 6.3 percent in January to 3.9 percent in December. Rank-and-file workers’ hourly paychecks rose by 5.8 percent. And sprawling stimulus measures helped keep consumer demand healthy despite multiple waves of the coronavirus….