Political Quotes

“I want to give today's reality check. The Federal Reserve today raised interest rates 75 basis points--three- quarters of a point--with a statement they may come back and do that again in another month. A point and a half in 2 months is a pretty dramatic effect. It is going to be a situation where many people, 40 and younger, are about to face interest rates they have never faced in their lifetime. The cost of buying a car that is already high is about to get higher. The cost of buying a home that is already really high is about to get much higher. Inflation is now at 8.6 percent. A lot of people are beginning to feel what that really means. This is not some strange anomaly. This is inflation over the last decade. It has bounced around about the same level, basically, for a decade until right there--March of 2021--and then it just skyrockets at that point. This is the reality that we are facing at this point. What does inflation really look like when you say it is 8.6 percent? Well, people know what that feels like. The cost of eggs has gone up 32 percent in the past year--32 percent for eggs. The cost of milk is up 16 percent; the cost of butter, also 16 percent; the cost of coffee, 15 percent; the cost of baby formula, if you can find it, is up 13 percent. And gas prices? Oh, hello. Gas prices--that really has had an effect. This is gas prices since January of 2017. Again, we look, and it stays about the same until January of 2021.…”