Former Chairman of the council of economic advisers Kevin Hassett argued on Wednesday, shortly after the release of April's inflation data, that the Fed’s policies to curb soaring prices are not “having any effect at all right now.”
FOX Business' Cheryl Casone reports on the highly anticipated consumer price index report moments after the Labor Department posted the data.
"You take .6, you multiply it by 12, account for a little compounding and you’re basically looking at about the same core inflation that we see looking back over the last year," he explained. "So for me, there are really no signs that inflation is slowing down in this [report.]" The slight slowdown in inflation last month came as energy prices declined 2.7%, driven by a 6.1% drop in gasoline .
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