Stuart Varney: Big day for inflation fighting
It’s a big day for inflation: Stuart Varney
FOX Business host Stuart Varney argues inflation brings economic and political change during his ‘My Take.’
"Varney & Co." host Stuart Varney discusses the Biden administration's handling of the economy as Federal Reserve Chairman Jerome Powell is expected to testify on monetary policy, arguing "it's a big day" to fight inflation during his "My Take" Wednesday.
STUART VARNEY: It’s a big day for inflation fighting. There's a two-pronged attack.
Fed Chair Jay Powell is being grilled on Capitol Hill: he's raising interest rates and cutting money printing.
President Biden is grilling oil company executives: he's demanding price cuts for oil and gas.
With 8% inflation for consumers and 10% for business costs, clearly, "something must be done."
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But don't expect a quick return to the good old days.
It takes a long time to wring inflation out of the economy.
There's a lot of pain. Voters don't like it. Investors don't like it.