This article was co-authored by Andy Puzder and Jim Talent. It originally appeared in DailyMail.com on June 30, 2022.
Andy Puzder is a former CEO of CKE Restaurants, chairman of 2ndVote Value Investments, Inc., and a senior fellow at the America First Policy Institute.
'The outlook for the U.S. economy is bad and potentially getting worse.
On Thursday, the Commerce Department released new consumer spending numbers showing that the prices Americans are paying for goods and services climbed 6.3% over the past year, as inflation maintained its upward momentum.
Just 24 hours earlier, Federal Reserve Chairman Jerome Powell warned, yet again, that his efforts to rein in runaway price increases by raising interest rates may plunge the nation into recession.
And he said it's worth the risk.
'The bigger mistake to make—let's put it that way—would be to fail to restore price stability,' he said at the European Central Bank's annual economic policy conference in Portugal.
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