For Immediate Release:
January 31, 2022
For More Information, Contact:
Chris Mulchaey, firstname.lastname@example.org
Decatur, IL.– In an Associated Press story over the weekend, it was noted that a “measure of prices that is closely tracked by the Federal Reserve rose 5.8% last year, the sharpest increase since 1982.” Excessive government spending and supply chain mismanagement are fueling the increases in the prices of everyday goods.
“We are seeing the kind of inflation we haven’t seen in four decades, and Southern and Central Illinoisians are struggling to afford groceries, gas and other essential goods for their families. On top of that, President Biden and Nancy Pelosi are focused on passing trillions of dollars more in reckless spending, which will only further exacerbate already out-of-control inflation,” said Jesse Reising, congressional candidate for Illinois’ 13th district. “Americans are being hurt by policies in Washington, D.C.that prioritize outrageous political wishlists over family budgets. I will work to pass common sense policies that rein in government spending and check inflation.”
The AP story went on to note that, “Stubbornly high inflation has hammered household budgets, wiped out last year’s healthy wage gains and posed a severe political challenge to President Joe Biden and Democrats in Congress. It also led the Federal Reserve to signal Wednesday that it plans to raise interest rates multiple times this year beginning in March to try to get accelerating prices under control.”
Read the story here: A key inflation gauge rose 5.8% in 2021, most in 39 years.