Fed's Daly Calls Inflation a 'Corrosive Disease'

The transcript discusses the dual mandate of price stability and employment, emphasizing the current focus on inflation due to its impact on low and moderate income individuals. It highlights the decline in real wages and describes inflation as a corrosive force that erodes purchasing power, particularly affecting the less advantaged. The speaker argues for the importance of addressing inflation to support an inclusive economy.

What is the dual mandate mentioned by the speaker?

• Economic growth and tax reduction

• Unemployment benefits and social security

• Price stability and employment

• Interest rate control and inflation

According to the speaker, which group is most affected by inflation?

• Low and moderate-income individuals

• High-income individuals

• Middle-class families

• Business owners

What has happened to average real wages over the past two years?

• Doubled

• Fallen by 9%

• Remained stable

• Increased by 9%

How does the speaker describe inflation?

• A beneficial economic force

• A corrosive disease

• A temporary inconvenience

• A minor issue

What is the speaker's view on the impact of inflation on the less advantaged?

• They have more purchasing power

• They bear a higher tax

• They are unaffected

• They benefit the most