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"The biggest threat to the economy is not inflation, it's the Fed."
Yesterday, Axios published a comprehensive explanation for how price gouging statutes work in the 38 states that deploy them – from Texas to California to Louisiana.
"You can't use the pandemic or a period of high inflation as an excuse to run up the score.”
“Price gouging, price fixing, and just plain profiteering are rampant in the food and grocery sector."
"Putting everyday people at the center of our policymaking is not just the right approach – it’s the most effective one.”
“The Fed’s continued high interest rates saddle people with debt, lock them out of the housing market, and threaten their jobs. The Federal Reserve should hold an emergency meeting and cut rates immediately.”
"The Fed must cut rates by at least 75 basis points immediately to stop the pain high interest rates are inflicting on the every day people who power our economy."
"The Fed's sky-high interest rates are causing more economic pain than the inflation it’s trying to combat.”
"High interest rates are stifling the housing market and saddling people with debt.”
Ahead of the Federal Reserve Open Market Committee meeting next week, a chorus of economic experts, former Fed officials, and pundits are pushing for Chair Powell and his colleagues to cut interest rates from their 23-year highs.