Inflation is one of the worst pains the United States’ economy is up against. Prices, along with interest rates, are going on a consistent basis; however, the paychecks of the average American aren’t following suit at all.
Many people would very much love for inflation to work itself out and eventually go down. Meanwhile, the Federal Reserve claims that moving up interest rates is going to lead to inflation cooling down in the long run.
That remains debatable, at best. The central bank has increased interest rates multiple times this year; however, inflation is still a problem.
Now the State Department is warning that inflation in the food sector could last for years on end, per Washington Examiner.
The Newest Warning From the State Department
Russia’s invasion of Ukraine, along with inflation in general, are both being cited by the State Department as reasons that food prices will remain high for at least three years.
Cary Fowler, the special envoy of the State Department, claimed the “multiyear” issue with high prices doesn’t come with a quick fix.
Fowler also said the United States needs to make plans accordingly. Right now, the war in Ukraine has severely hampered the nation’s Black Sea ports, which play a vital role in food transportation.
Just so we’re clear, the State Department is claiming Putin is responsible for destroying all the food processing centers across America? All the cows and chickens killed, Putin is responsible for everything?
Stretching that boogeyman narrative rather thin, practically anorexic.
— Guaranteed Success (@gsusgod) June 22, 2022
The State Department’s newest comments about long-term high food prices come months after Biden himself warned about shortages in food.
Needless to say, this arrives as Americans today are already having issues with comfortably affording food and other necessities, such as childcare, medicine, insurance, etc.
The news that these sorts of problems are likely to last for years on end is the last thing most people want to be faced with.
Criticism Toward the Latest Announcement
On social media, the State Department’s been criticized for solely pointing the finger at Putin for high costs of food that are projected to last.
Many Americans believe while the war in Ukraine could be a factor, Biden’s American Rescue Plan and other heavy spending bills are connected to food prices as well.
Critics of the president also charge that he’s put his agenda of climate change reform above everything else, including inflation and increasingly unaffordable food prices.
Sanctioning oil and fertilizer from Russia was short sighted. Biden has no plan to enable development of traditional domestic sources.
His cabinet and congress plan to use high gas and food prices to bludgeon American consumers into adopting leftist agendas.
It won’t work.
— Thomas Massie (@RepThomasMassie) June 14, 2022
If the State Department’s prediction pans out, it means more Americans will struggle with issues like poverty, debt, and keeping up with living costs.
This certainly doesn’t constitute “building back better,” something that Biden campaigned on doing throughout the 2020 presidential election period.
Do you believe that food prices are going to remain high and unaffordable for three years on end? In the comments area down below, let us know what type of impact you think this will have on everyday people and the nation at large.