Federal Reserve Predicts Delays and Price Hikes

Federal Reserve Predicts Delays and Price Hikes

(ConservativeInsider.org) – Many Americans are feeling the pull on their purse strings at the gas pump and the grocery store, as prices at both spots rose in recent weeks. Now, the federal government is acknowledging that these sectors are not the only ones to hit Americans’ budgets hard in the coming weeks. In addition, a vast amount of goods will simply not be available this holiday season, or if they are, they’ll be quite pricey.

Reports show multitudes of container ships are currently sitting off the coast of California, just waiting to unload their goods in time for the holiday season. Once unloaded, though, they will join the thousands of other containers just sitting in port.

It’s incredibly difficult to get merchandise unloaded due to labor shortages at ports and the COVID-19 restrictions that have built up since the pandemic’s beginning. This comes as Americans are chomping at the bit to spend the money they saved during recent lockdowns.

The federal reserve acknowledged that inflation remains high with the insufficient workforce. CBS’ Face The Nation went more in-depth into this issue:

After seeing the enormous stimulus packages paid to Americans and the huge unemployment checks, it’s not surprising many citizens would rather stay at home than go to work, contributing to this inflation crisis. Now, many Americans are waiting to see what President Joe Biden will do to fix this mess his administration made.

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