fr24news– According to Kashkari, the current inflation and supply chain problems are the result of a “Soaring demand for goods”, as well as the Covid-19 pandemic, two problems that the head of the Federal Reserve calls ” temporary. “ The increase in demand, Kashkari claimed, is in part due to the fact “Congress has given lots of money to families and businesses to get through the pandemic. “
Inflation rates are currently at their highest level in 30 years, according to data from the US Department of Labor.
While Kashkari admits the ” pain “ American Consumers Think It’s Real The Government Shouldn’t “Set a long-term monetary policy and – and adjust too much for temporary factors, even if those temporary factors take a little longer than you expect.” “
Over the next six to nine months, he added, “We’re going to get a lot more data on both demand and supply to get a better sense of where the economy is going. “
President Joe Biden and his administration have faced inflation scrutiny as Americans see gas and food prices rise dramatically, while facing massive supply chain issues that have slowed down the flow of goods.
Biden directly addressed the issues on Sunday in a tweet where he claimed Americans could face prices that are “Too high,” but they are also apparently in the middle of “A historic economic recovery” and cited his controversial and expensive Build Back Better plan as a solution to Americans’ economic problems.