Shoppers React to Rising Prices
March 10, 2022
With inflation reaching its highest level in 40 years, WCPO reporter Courtney Francisco spoke with shoppers about the impact at the cash register. Some express concern about putting food on the table. Our Jim Russell says the latest readings don’t include gas prices, and the end is nowhere in sight.
“Very difficult decisions are going to have to be made in the living rooms and kitchen tables across the United States before too much longer.”
He explained, the Federal reserve meets next week and it is tasked with keeping inflation under control.
“One of the tools that they have is utilizing higher interest rates so it does appear that they’re going to pull that lever.” The goal, he says, is to deter people from borrowing; they spend less, demand falls and forces prices down.
“Frankly, all bets are off regarding inflation going down anytime soon. I think that the surge in oil prices, the surge in gasoline prices, and also continued problems with the supply chain will tend to keep inflation at an elevated pace for some time. I think a lot centers on how the war develops.”
Jim Russell, CFA
See the interview HERE