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US inflation is worse than most of the world due to Fed and spending

On Friday’s “PBS NewsHour” program, New York Times Columnist David Brooks said that although there is inflation all over the world, US inflation figures are “significantly higher” than figures for most other comparable countries and this is due to both Federal Reserve policy and “our extremely expansionary fiscal policy.” , federal spending.

Brooks said: “Inflation is the number one concern in the country right now. And even if wages go up, real wages go down, that is, wages after taking inflation into account. And so, we now have several months of negative wages — real wage growth. And so, that’s a real problem. Now, it’s true that wages — or inflation are going up everywhere, fuel everywhere, food everywhere. But the inflation rate in the United States is significantly higher than in most other comparable countries. And so, it must be due to two things: the first is Federal Reserve policy, but the second is our extremely expansionary fiscal policy, federal spending. And so, that’s – I think that means any new spending initiatives will be extremely unpopular and probably won’t happen.

Follow Ian Hanchett on Twitter @IanHanchett


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