Write For Us

Varney: Politicians will feel stagflation at the ballot box

Sponsored Post Vitamin D2 Canada Persia
44 Views

  • Thanks! Share it with your friends!

    You disliked this video. Thanks for the feedback!

ava
Published
Stuart Varney: Politicians will feel stagflation at the ballot box

FOX Business' Stuart Varney says Americans are already feeling stagflation in their wallets.

...

STUART VARNEY: Stagflation is not a happy subject.

There are times when the economy gets into an intractable mess – slow, or ‘no’ growth, with rising prices: that is stagflation.

We haven't felt it in a generation, but it sure looks like it’s headed our way again. You're going to hear a lot about this!

For the past year, inflation has gradually picked up steam. Now, it’s running hot at a 10% clip. And, I think it gets worse. Food price inflation will soon accelerate. Couple that with gas prices and electricity bills and everything else, and you've got an inflation problem that everyone can see and feel.

It is the job of the Federal Reserve to fix it. They do this by raising interest rates. And that's what they're doing now. The economy will slow. That’s the ‘stag’ part of ‘stagflation’ – stagnant economy, rising prices.

Think of the implications of this: the standard of living, especially for low-income people, goes down. Just about everyone loses ground.

We saw stagflation in the late 70s and very early 80s. Ten percent inflation; slowing economy; rate hikes then recession. An angry electorate fired President Carter.

This time around, we are already feeling stagflation in our wallets. I think the politicians will feel it at the ballot box.

...

Subscribe to Fox Business! https://bit.ly/2D9Cdse
Watch more Fox Business Video: https://video.foxbusiness.com
Watch Fox Business Network Live: http://www.foxnewsgo.com/

FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched in October 2007 and is one of the leading business networks on television, having topped CNBC in Business Day viewers for the second consecutive year in 2018. The network is available in nearly 80 million homes in all markets across the United States. Owned by FOX Corporation, FBN is a unit of FOX News Media and has bureaus in Chicago, Los Angeles, and Washington, D.C.

Follow Fox Business on Facebook: https://www.facebook.com/FoxBusiness
Follow Fox Business on Twitter: https://twitter.com/foxbusiness
Follow Fox Business on Instagram: https://www.instagram.com/foxbusiness
Category
Business
Tags
fox news, Fox Business, fox business
Sign in or sign up to post comments.
Be the first to comment