Fmr. Obama Economic Advisor: Manchin Is Right to Be Worried More About Inflation
FURMAN: "So, Margaret, Sen. Manchin is absolutely right to be more worried about inflation after the Friday report. That means we're going to need to do more. The Fed's probably going to telegraph larger rate increases in the future. It also means Congress should be trying to do their part in helping out. If they can cut the deficit, including raising taxes on high-income households, that would, you know, reduce a bit of spending in the economy. It would cool the economy down a little bit and actually take some pressure off the Fed. The Fed would not need to raise rates by quite as much if Congress did their job. So, clearly, this is a time where everyone should be helping out and bringing inflation down."