The Federal Reserve Printing Press Destroyed Your Wage Gains Last Year
This happened as consumer prices shot up 2.7% during the year. Even core inflation, which excludes food and energy since their prices can bounce around, rose 1.8%.
Overall, this level of inflation is considered tame by economic standards, but it would have actually been far lower, or even negative (deflation) had the Federal Reserve not stepped in to boost liquidity in the financial system and slashed interest rates to near-zero
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