Monday, August 25, 2014

Are Booker, Fed Ignoring Looming Inflation?

Rasmussen released a poll on Monday that found a large majority of Americans -- 75 percent -- are concerned about inflation. In addition, 81 percent surveyed reported paying more for groceries than a year ago. Half of the respondents -- and 55 percent of those making less than $30,000 per year -- said they did not have confidence in the Federal Reserve to hold inflation in check. The survey of 1,000 adults was conducted August 19-20th.
New Jersey Republican U.S. Senate nominee Jeff Bell responded, "It's clear that inflation is a bigger problem for the average American than the Federal Reserve or the Democratic Party would like to admit.
"We know that the government's measurement of inflation is understated because of how much it weights housing costs (41%), and it's clear in the data that on everyday purchases like groceries people are experiencing problematic inflation. This is making it harder to save money and improve one's standard of living.
"Yet Cory Booker refuses to agree that we should level the playing field on money or even do anything about the status quo at all. His monetary policy seems to be to let the rich get richer while everyone else suffers under rising prices."

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