During an interview with West Virginia MetroNews’ “Talkline with Hoppy Kercheval” on Thursday, Sen. Joe Manchin (D-WV) said inflation is “a basic threat” and that the Federal Reserve “can’t be pussyfooting around like they’ve been.” And now isn’t the time for more spending.
Manchin said, [relevant remarks begin around 54:50] “I’ve been ringing the alarm bell forever — I mean, for the last year about inflation. Nobody’s been listening. Now, we’re seeing a basic threat. It’s a 7.5% tax on everybody, on every product you buy. It’s just unbelievable.”
He added, “So, it’s time for the Federal Reserve to tackle the issue head-on. They can’t be pussyfooting around like they’ve been.”
Manchin further stated that increasing interest rates is “the only way they’ve ever been able to control it. I mean, you’ve got to stomp it down. I mean, if you don’t, it’s going to continue to run. 7.5%, that’s the highest in four decades, 40 years, it’s just unbelievable. And we’re not doing anything about it. We’re just sitting back there and watching it.”
Manchin also addressed spending, saying, “[N]ow is not a time to be throwing caution to the wind and putting more trillions of dollars out.”
He concluded, “Now is the time not to put more fuel on the fire. Let’s start putting the flames out.”