Along with inflation, The Federal Reserve's preferred inflation gauge (CPI) was higher in January, which means the Fed may have to raise interest rates higher, and more quickly.
The only problem with turning to the Fed is, the same people who are supposed to righting the ship, are the ones sinking it.
"Yes, these are the same people who told us there was no inflation, and that inflation was transitory" said EJ Antoni, economist with the Heritage Foundation, "So they have absolutely taken their eye off the prize, which is keeping the value of the dollar steady, and instead they were focusing on things like diversity, and financing these massive government deficits."
The bottom line is, the Democrats out of control spending has to stop.
"Rates need to be significantly higher than they are right now" Antoni told KTRH, "The question is just whether or not the Federal Reserve is going to have the stomach to that, because that's the only way you're going to rein in this beast that they set loose. Unfortunately, Jerome Powell so far has not demonstrated that he has the spine to make that happen."
If The Fed doesn't make that happen, the world will make it happen, and force it on us.