Customer inflation touched a four-decade high in the US on the back of the hardening of prices ranging from gas to groceries. The rising prices have effectively put the government led by President Joe Biden under attack from all sides.
US Federal Reserve chairman Jerome Powell has hailed the dangers related to entrenched inflation. The central bank will begin to tighten the noose around loose interest from this year.
US Chamber of Commerce chief Suzanne Clark, while addressing reporters, urged for doubling the number of legal immigrants as one of the fixes for high inflation.
“We want more workers. We should welcome individuals who need to come here, go to school and stay,” Clark told reporters, as indicated by a CNN report. “That is a place the government could be especially helpful and we do believe it would be anti-inflationary,” she added.
One of the significant major reasons for soaring inflation is the supply side disruptions because of a shortage of workers.
Clark said that increasing immigration will address the labor shortage issue which is also feeding into inflation.