Inflation Costs
October 31, 2021
We are all feeling the impact of rising prices in so many places. When you go to the grocery store, fill up your gas tank, or buy any of the many items in short supply, prices are soaring. Federal Reserve Chairman Jerome Powell had calmly responded to recent inflationary spikes by claiming they would be “transitory”. Powell suggested that prices were rising due to pent-up “post pandemic” buying. The Fed was comfortable with a little inflation of 2 % or slightly higher, which could jump start a stagnant economy. But price concerns are increasing for many consumers.