Democrat Rep. Sean Casten: Inflation is a ‘Good Thing’Jacob Bliss 10 Aug 2021
Democrat Rep. Sean Casten (IL), during a town hall in Palatine, Illinois, said that “a little bit of inflation” is a “good thing” while inflation is surging and prices are rising around the country.
Casten asserted that every economist he has talked to, including Federal Reserve Chairman Jerome Powell, believes inflation is “manageable.” He added that generally, economists are saying that inflation is a good thing.
“There’s also, frankly, I think there’s a general consensus among economists that a little bit of inflation would actually be a good thing,” Casten said. “Because the Federal Reserve has a mandate to keep interest rates manageable but non-zero and inflation manageable but not excessive.”
Casten was touting that the Fed, since 2008, “cut interest rates” many times, and the “Fed has a whole lot of very unconventional ammunition,” but they need to wait for inflation to rise in order to help.
He added that inflation is good if you get a raise but bad if you can not afford a vacation, claiming “beauty is in the eyes of the beholder.”
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https://www.breitbart.com/politics/2021/08/10/democrat-sean-casten-inflation-good/
