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NY Fed's Williams says fixed income households more affected by high inflation

Published 11/12/2021, 12:59 PM
Updated 11/12/2021, 01:16 PM
© Reuters. FILE PHOTO: John Williams, chief executive officer of the Federal Reserve Bank of New York, speaks at an event in New York, U.S., November 6, 2019. REUTERS/Carlo Allegri/File Photo

© Reuters. FILE PHOTO: John C. Williams, president and CEO of the Federal Reserve Bank of New York speaks to the Economic Club of New York in the Manhattan borough of New York, U.S., March 6, 2019. REUTERS/Lucas Jackson/File Photo

(Reuters) - Higher inflation does not affect all households equally, with people on fixed incomes taking a bigger hit, New York Federal Reserve Bank President John Williams said Friday.

"There are definitely segments ... of our labor force and economy that are more protected against inflation and there others who are less so," Williams said during a webinar organized by the New York Fed. "People on fixed incomes are obviously less protected against surprisingly high inflation."

Latest comments

They talk down to the public, because they think everybody is stupid. It's basic conceit. It's a common effect of modern liberalism.
It this guy a rocket scientist or captain obvious!
And the most protected are the asset rich wealthy, hence the exploding wealth gap.
Irony at its best
ask your boss why he is buying 120B of ****** monthly.whom his he supporting ? because it is not US people nor US economy!
His own stocks
But people love him for it. The boss will shoot them, and they will thank him. He can even dump garbage, and the same people will bid them up even higher to compensate. Think for yourself, and leave the rest.
And the sky is blue
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