Friday, May 20, 2022

U.S. Federal Reserve Warns of Delays and Price Hikes During this Holiday Season

Delays and price hikes are anticipated in the United States for holiday merchandise, a Federal Reserve official warned Sunday, calling for more to be done to boost the workforce.

‘Right now, we see consumers trying to get out early and spend their money to get their goods before they run out,’ Mary Daly, head of the San Francisco branch of the US central bank, told CBS.

When shopping for the upcoming holidays, ‘people are buying it now and they’re being told oftentimes they can’t get it until after the holiday has passed,’ she said.

INFLATION LATEST: “If we continue to have supply bottlenecks and we keep spending, then we’re going to have more inflation,” @sffed ‘s @MaryDalyEcon tells @margbrennan.

Latest CBS News polling shows 60% of Americans say the president is not doing enough to combat inflation. pic.twitter.com/NVOvt5Fgqn

— Face The Nation (@FaceTheNation) October 10, 2021

Source: The Daily Mail