Former Congressional Budget Office Director Douglas Holtz-Eakin has warned that the high inflation rate troubling American citizens isn’t going away anytime soon and is here to stay for several years.
In an interview with Fox, Holtz-Eakin cited Federal Reserve Chairman Jerome Powell’s statement on Aug. 26 about inflation. “One of the things that Powell emphasized Friday was that the mistake that was made in the 1960s and 1970s was to declare victory prematurely, and then inflation came back with even greater ferocity. He has promised not to let that happen. So get ready for the Fed to finish this job,” Holtz-Eakin stated.
