It was just announced that inflation came in substantially hotter than expected last month.
Double
what was predicted with much of the gain coming from food prices going up,
rent and housing costs going up and car prices going up. Interest rates, as you know, are also a big factor. They're very high.
They've gone from 2 percent when I was in office to 10 percent now, and you can't get the money. That means it's much higher than 10 percent, which really kills the American dream for young people. We have a lot of young people here, a lot of college people here.
The fact is that the Federal Reserve brought the interest rates
down
a little too quickly.
It was too big a cut
and everyone knows That was a political maneuver that they tried to do before the election, but they did the wrong thing.
It was totally
a political decision and
inflation has started to rise.
