© Reuters. FILE PHOTO: John Williams, chief government officer of the Federal Reserve Financial institution of New York, speaks at an occasion in New York, U.S., November 6, 2019. REUTERS/Carlo Allegri/File Picture
(Reuters) – Increased inflation doesn’t have an effect on all households equally, with individuals on mounted incomes taking an even bigger hit, New York Federal Reserve Financial institution President John Williams mentioned Friday.
“There are undoubtedly segments … of our labor power and economic system which can be extra protected in opposition to inflation and there others who’re much less so,” Williams mentioned throughout a webinar organized by the New York Fed. “Individuals on mounted incomes are clearly much less protected in opposition to surprisingly excessive inflation.”
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