NY Fed’s Williams says fixed income households more affected by high inflation By Reuters
© Reuters. FILE PHOTO: John Williams, chief executive officer of the Federal Reserve Bank of New York, speaks at an event in New York, U.S., November 6, 2019. REUTERS/Carlo Allegri/File Photo
(Reuters) – Higher inflation does not affect all households equally, with people on fixed incomes taking a bigger hit, New York Federal Reserve Bank President John Williams said Friday.
“There are definitely segments … of our labor force and economy that are more protected against inflation and there others who are less so,” Williams said during a webinar organized by the New York Fed. “People on fixed incomes are obviously less protected against surprisingly high inflation.”
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