CNN’s John Harwood notes that most households ‘have a cash cushion’ to navigate through inflation
When it became clear that inflation was not “transitory,” and that it had hit its highest level in 40 years, a lot of blue checks advised people to just stop being poor. You should be glad to pay $10 a gallon for gas if you thought it would help defeat Putin, said the millionaire celebrity.
A Moody’s Analytics economist talked to the Wall Street Journal about “the very high inflation” we’re seeing, and CNN’s John Harwood excerpted the part where the economist said that most households have a cash cushion to help them navigate hard times. We guess everyone saved money by being locked down for a year, and now they’re relying on those savings to buy groceries.
“Most households have a cash cushion to navigate through the very high inflation,” said Mark Zandi, Moody’s Analytics chief economist. “This is allowing consumers to stay in the game.” https://t.co/3Alj1mdCVA
— John Harwood (@JohnJHarwood) July 5, 2022
