With the costs of everything spiking through the roof, the President of the Atlanta Federal Reserve wants Americans to feel the pain now, instead of lots of pain later.
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Due to the recession and historic inflation, everyday Americans are feeling the burden of high costs in their wallets more and more.
Daily wire writes. Raphael Bostic, president and CEO of the Atlanta Federal Reserve Bank, said Sunday the country needs economic pain now in order to avoid even greater pain in the future.
In an interview with CBS’s “Face The Nation,” Bostic said the Federal Reserve must rein in economic demand to reduce sky-high inflation. He acknowledged that tightening monetary policy would inevitably slow the economy down further. He said dragging the economy down would result in job losses and economic pain, but that pain was necessary to prevent worse pain in the future.
The democrats have spent the last year gas lighting Americans on the economy and inflation costs.
Next News Network reported. The US inflation rate dropped again in August to 8.3 percent, but remains near a four-decade high even as President Joe Biden claims he is making progress. In August’s consumer price index report, the Commerce Department reported a drop from the 40-year high of 9.1 percent in June and 8.5 percent in July – but the numbers were hotter than anticipated, and Wall Street opened sharply lower. Yet the Biden administration is running around telling lies on how America is better off under Biden, here are a few examples of their lies.
The Atlanta Federal Reserve CEO could be right when it comes to how the fed is handling the money crisis by allowing Americans to feel it now, versus all at once. Yet they have raised the interest rates multiple times this year alone to combat the weakening economy, all to no movement on inflation. The Biden administration should be honest with Americans about the situation with the economy, and that way we can all work together to fix the problems.
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