An annual inflation rate of 6.2% for October makes a lot of people nervous.
It’s the highest we’ve seen in this country in more than three decades. It’s a struggle for anyone who lives paycheck to paycheck.
Now, there’s pressure to get it under control. If not, there could be political consequences.
We talk about that with former Iowa Congressman Dave Loebsack and former Iowa Republican Party Chair Steve Grubbs.
“If the White House were calling me asking my advice, I would say if you pass another stimulus package … do not have that money head out into the economy right now,” Grubbs said.
“We’ve had a lot of mixed signals in recent days about what the Fed might do, whether they might pull back a little bit and increase interest rates,” Loebsack said.
In the video, you’ll hear them discuss the history, and possible future, of inflation in the United States.
Local 4 News, your local election headquarters, is proud to present 4 The Record, a weekly news and public affairs program focused on the issues important to you. It’s a program unlike any other here in the Quad Cities. Tune in each Sunday at 10:30 a.m. as Jim Niedelman brings you up to speed on what’s happening in the political arena, from Springfield, Des Moines, Washington, D.C. and right here at home.