{"id":1581513,"date":"2022-07-31T15:49:19","date_gmt":"2022-07-31T19:49:19","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1581513"},"modified":"2022-07-31T15:49:21","modified_gmt":"2022-07-31T19:49:21","slug":"fed-bank-president-sends-dire-warning-about-inflation-its-spreading-out","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fed-bank-president-sends-dire-warning-about-inflation-its-spreading-out\/","title":{"rendered":"Fed Bank President Sends Dire Warning About Inflation: \u2018It\u2019s Spreading Out\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffed-bank-president-sends-dire-warning-about-inflation-its-spreading-out%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1581513&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The <a href=\"https:\/\/www.theepochtimes.com\/t-federal-reserve\">Federal Reserve<\/a> Bank of Minneapolis president warned Sunday that the current rate of <a href=\"https:\/\/www.theepochtimes.com\/t-inflation\">inflation<\/a> is troubling and will spread across the country.<\/p>\n<p>\u201cIt\u2019s very concerning. We keep getting inflation readings, new data that comes in as recently as this past week, and we keep getting surprised. It\u2019s higher than we expect,\u201d Fed branch President Neel Kashkari said on CBS News\u2019 \u201cFace The Nation.\u201d \u201cAnd it\u2019s not just a few categories. It\u2019s spreading out more broadly across the economy and that\u2019s why the Federal Reserve is acting with such urgency to get it under control and bring it back down.\u201d<\/p>\n<p>He said that wages are increasing for many Americans. However, so are the cost of goods and services, adding that workers will suffer a \u201creal wage cut\u201d due to price pressures.<\/p>\n<p>Earlier this month, the Bureau of Labor Statistics released its Consumer Price Index data, showing a key metric for inflation rose 9.1 percent year-over-year in June, or the highest figure seen since the early 1980s. Another metric, the Producer Price Index, shot up by 11.3 percent in June, which is also the highest in decades.<\/p>\n<p>Wages are \u201cnot going up as fast as inflation, so most Americans\u2019 real wages, real incomes are going down,\u201d\u00a0Kashkari told the outlet Sunday. \u201cI mean typically, we think about wage-driven inflation where wages grow quickly and that leads to higher prices in a self-fulfilling spiral\u2013that is not yet happening,\u201d he added.<\/p>\n<p>\u201cHigh prices and wages are now trying to catch up to those high prices \u2026 and so we need to get the economy back into balance before this really does become from a very wage-driven inflation story,\u201d the Fed president added.<\/p>\n<p> Cause <\/p>\n<p>Some Republicans and economists have said that multi-trillion-dollar federal government spending packages around COVID-19 have triggered high inflation, while some have blamed<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Federal Reserve Bank of Minneapolis president warned Sunday that the current rate of inflation is troubling and will spread across the country. \u201cIt\u2019s very concerning. We keep getting inflation readings, new data that comes in as recently as this past week, and we keep getting surprised. It\u2019s higher than we expect,\u201d Fed branch President [\u2026]<\/p>\n","protected":false},"author":58,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1581513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1581513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/58"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1581513"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1581513\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1581513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1581513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1581513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}