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‘6% inflation is devastating’ for Americans, says financial expert

Inflation is too high and the central bank needs to move faster to control it by raising interest rates, Gilbert Garcia, a managing partner of Garcia Hamilton & Associates in Houston.

Garcia said at the CNBC Financial Advisors Summit on Wednesday, speaking of predictions that the recent price increase is temporary.

“Inflation is at 6%, maybe more than 6%, no matter how you look at it,” he added. “It’s obviously longer transient and it’s much hotter than their inflation target.”


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U.S. Inflation Episodes

Consumer Price Index, percent change from a year ago

Note: Periods of high inflation are shaded.

Source: Bureau of Labor Statistics (CPI), White House (inflation periods through ’08). Data is

adjusted for the season and as of October 21.

blank

U.S. Inflation Episodes

Consumer price index, percentage change from

A year ago

At the end of 1960, economic expansion

Note: Periods of high inflation are shaded.

Source: Bureau of Labor Statistics (CPI), White

House (inflation period up to ’08).

The data are adjusted for the season and as of October 21.

blank

U.S. Inflation Episodes

Consumer Price Index, percent change from a year ago

Note: Periods of high inflation are shaded.

Source: Bureau of Labor Statistics (CPI), White House (past inflationary periods .)

’08). The data are adjusted for the season and as of October 21.

https://www.cnbc.com/2021/12/08/6percent-inflation-is-devastating-to-americans-financial-expert-says-.html ‘6% inflation is devastating’ for Americans, says financial expert

Emma James

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