Taylor Riggs, co-anchor of The Big Money Show on Fox Business, joined the Hammer and Nigel Show Wednesday to break-down the latest inflation numbers.
In case you missed it, Biden-flation has risen after January’s inflation report showed a 6.4% increase.
Riggs says that our current consumer price index is far from the ideal percentage rate.
“The Federal Reserve target is 2%. I think we can all agree, we are a long ways from getting all the way back down to 2%. ..We really want that number to be at 2% when thinking about long-term financial stability.”
She says that even though the inflation rate is high, consumers are still buying and keeping the market hot. Riggs says that while employers are raising wages to keep up with the inflation, the economy and spending needs to slow down.
“You have companies now that are trying to increase wages to keep up with inflation, which in theory is a good thing, but the problem with that is it’s creating a bigger inflation problem. That’s why you really need, unfortunately, for the economy to slow down so that we stop getting the wage increases.”
Check out Taylor Riggs full interview with Hammer and Nigel here:
