High inflation is making Americans unhappy, and the Federal Reserve must step up its campaign to get prices back under control, a top Fed official said Monday.
"This inflation we're seeing is very bad for low and moderate-income households," St. Louis Federal Reserve President James Bullard told CNBC. "Real wages are declining. People are unhappy. Consumer confidence is declining. This is not a good situation."
Bullard, who has been more worried about high inflation than some of his colleagues, noted the central bank has been caught off guard by the spike in prices.
We have to reassure people we are going to defend our inflation target and we are going to get inflation back to 2%," Bullard said, noting that consumer prices soared in January by 7.5% from the year before.
Biden started the ball rolling with cancelling the keystone Pipeline and suspend drilling in Federal land. Listening to the far leftist desire to take this country to their dark place.
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