US Chamber of Commerce chief wants more immigrants to check rising inflation
US Federal Reserve chairman Jerome Powell has flagged the risks associated with entrenched inflation. The central bank will start to tighten the noose around loose interest rates from this year.
By ET Online |
Agencies
US Chamber of Commerce CEO Suzanne Clark wants number of legal immigrants doubled to address worker shortage.
Consumer inflation touched a four-decade high in the US on the back of hardening of prices ranging from gas to groceries. The rising prices have already put the government led by President Joe Biden under attack from all sides.
US Federal Reserve chairman Jerome Powell has flagged the risks associated with entrenched inflation. The central bank will start to tighten the noose around loose interest rates 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 need more workers. We should welcome people who want to come here, go to school and stay," Clark told reporters, according to a CNN report. "That is a place the government could be particularly helpful and we do believe it would be anti-inflationary," she added.
One of the major reasons for soaring inflation is the supply side disruptions due to shortage of workers.
Clark said that increasing immigration will address the labour shortage issue which is also feeding into inflation.
