September CPI ‘terrible news’ for workers, seniors: Rep. Kevin Brady
House Ways and Means Committee ranking member Rep. Kevin Brady discusses if the economy hit peak inflation after CPI rose to a near 40-year high on ‘Varney & Co.’
The managing director of the International Monetary Fund urged global policymakers to prevent inflation from becoming "a runaway train'' at a time of extraordinary global economic turmoil.
Speaking to reporters Thursday, the IMF’s Kristaline Georgieva said that the world economy "has been hit by one shock after another″ — the coronavirus pandemic, Russia’s invasion of Ukraine and a resurgence of inflation.
But reining in rising prices should take priority, she said. "If we do not restore price stability, we will undermine prospects for growth,'' she said, adding: "We cannot possibly allow inflation to become a runaway train — bad for growth, bad for people, bad especially for poor people.″