On July 29, the U.S. Bureau of Economic Analysis reported on America’s personal consumption expenditures (PCE) price index for the month of June, and the figure saw the largest 12-month increase since 1982. On the same day, Stanford University’s senior fellow at the Hoover Institution and professor of economics, John Cochrane, said the Federal Reserve should increase rates above 9% to tame inflation.
The best answer is our governments should start running sober fiscal and monetary policies, and pay more attention to keep inflation under control.
What do you think about the latest PCE data and the economist John Cochrane’s opinion? Do you think improved fiscal and monetary policies can help tame U.S. inflation? Let us know what you think about this subject in the comments section below.