Fed: inflation accelerating

The Federal Reserve is sounding the alarm today on runaway inflation, revising its inflation estimate for the year up sharply over initial expectations, warning that inflation could turn out to be “higher and more persistent than we expect.”

The move comes as a growing chorus of CEO’s and financial firms warn inflation is here to stay, and Democrats’ reckless tax-and-spend agenda will only make it even worse.

“Americans are working harder than ever for shrinking paychecks, thanks to Democrat tax hikes, that are worth less than ever before, thanks to runaway inflation from their liberal spending sprees,” said CLF Communications Director Calvin Moore. “Families need a lifeline to get back on their feet, but Democrats want to make it harder than ever for middle class families to get by.”