The Epoch Times Commentary
Inflation “is destroying working folks’ pocketbooks and devaluing the wages they earn and the root cause … is way too much government spending, too many social programs … and vastly too much money creation by the Federal Reserve,” Larry Kudlow, former director of the U.S. National Economic Council, said on Feb. 14.
During the pandemic, the U.S. Federal Reserve (Fed) lowered interest rates, bought bonds and mortgage-backed securities (MBS), and increased the money supply by 40 percent, driving the current inflation rate to its highest level in decades…
