Inflation is a hot topic right now in America, and Consumer Warrior Clark Howard says there are some reasons for the rising prices.
“Even though people seem to be doing better in their own paychecks, they’re feeling worse about their future, because they’re seeing costs go up all over the place,” Clark says.
One example he gives is Dollar Tree raising its prices to $1.25.
Clark says the government has levers it can use to help the economy amid the COVID-19 pandemic. That’s the reason we’re seeing rising prices for plenty of goods and services, according to Clark.
“They flooded the economy with too much money,” Clark says. “Both the Congress did, and also the Federal Reserve.”
But Clark says the Federal Reserve has signaled it will soon cut back what they’re doing. He says that will slow the economy while also helping with inflation. Clark says if Congress cuts back on what its doing, that will help the inflation situation as well.
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