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Inflation effecting everyone
Recent poll says 67% of Americans are feeling some hardship from current inflation. The panel discusses the treasury's role and Biden's influence in how the U.S. economy moves forward.
Houston - As American families contend with the most drastic inflation in 40 years - the Federal Reserve signaled its intention to raise interest rates three times next year in an effort to slow down surging prices.
The Fed's action comes as a Fox Business poll found 67% of Americans say inflation has caused financial hardship during the past six months,.and perhaps more telling - nearly half - 46% fear President Biden’s social spending plan will only make inflation worse.
With prices rising at a 6% annual pace - it won't take long to severely erode the buying power of retirement savings.