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It's been the same for months – prices of goods keep rising, many families can’t keep up, and even increased wages still aren’t enough. “Inflation” is rising at its fastest rate in 40 years. But it could be over soon!
And this prediction is coming from the top.
Many of us can’t imagine even more expensive grocery store trips, but President Biden says that despite the current wave of rising prices, we could soon be getting what we’ve been waiting for.
According to Biden, lower prices should be on their way soon! For those of us who ditched name brands for generics, stopped saving, or skipped prescriptions, this could be coming at the perfect time.
If Biden is right, lower and medium-income families are in for a bit of relief.
The Federal Reserve is permitted by Congress to tweak interest rates in an effort to control inflation, and it’s indicated it will make moves very soon.
Biden also indicated that rising wages and the slow fade out of pandemic restrictions would help.
Inflation is a normal part of American capitalism – prices always rise. And wages have almost NEVER kept up. But right now prices are even more out of control than normal!
If the President is wrong, it could take years for most of our finances to recover.