Most Americans have been struggling financially thanks to rising inflation. However, according to a recent survey by Willis Towers Watson, 36% of U.S. employees with salaries of $100,000 or more are now living paycheck to paycheck. On Friday, Fed Chairman Jerome Powell reiterated the Fed’s commitment to bringing down inflation. “The Federal Reserve’s strong commitment to our price stability mandate contributes to the widespread confidence in the dollar as a store of value,” he said. “To that end, my colleagues and I are acutely focused on returning inflation to our 2 percent objective.”

 

CNBC/Greg Iacurci
Amid record inflation, 36% of employees earning $100,000 or more say they are living paycheck to paycheck

More than a third of high-earning American workers feel strapped for cash — a share that has risen dramatically in recent years.

Thirty-six percent of U.S. employees with salaries of $100,000 or more are living paycheck to paycheck — twice as many who said they were in 2019, according to a survey conducted by Willis Towers Watson, a consulting firm.

That’s more than the 34% of workers who earn $50,000 to $100,000 a year who are living paycheck to paycheck, though lower than the 52% of paycheck-to-paycheck workers with incomes of less than $50,000, according to the survey.

Continue reading, here.

 

Bloomberg via Yahoo Finance/Alister Bull
Powell Says Fed ‘Acutely Focused’ on Returning Inflation to 2%

Federal Reserve Chair Jerome Powell reiterated his determination to curb the hottest inflation in 40 years and said the US central bank’s commitment encourages the world to hold and transact in dollars.

“My colleagues and I are acutely focused on returning inflation to our 2% objective,” he said in welcoming remarks Friday to a Fed conference on the international role of the dollar in Washington. “The Federal Reserve’s strong commitment to our price-stability mandate contributes to the widespread confidence in the dollar as a store of value.”

Keep reading, here.

 

Gold Seek/Keith Weiner
Will Interest Rate Hikes Fix Inflation?

Senator Elizabeth Warren and President Joe Biden claim that inflation is caused by greedy corporations. And they propose to solve this problem by making the corporations pay. Whether it’s extracting a “windfall profits” tax, crushing them under even more regulation, or attacking them with antitrust enforcement, the idea is the same. They propose to harm the corporations which produce the things we need such as energy and food, which will somehow cause prices to drop. They think that hurting producers will do good to consumers.

Think about this. Take as long as you need.

This kind of blatant zero-sum, win-lose view is the essence of socialism. It may be popular among the Left, but fortunately, it is outside the mainstream.

You can read the full article, here.

 

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