Look over the rough draft and make the necessary changes and edits

 

 

 

                                             

                                                  Why Is High-Rate Inflation Making A Deep Impact On Americans?

               

 

                              

 

               High inflation is putting low-income Americans into Survival Mode.  Rachel Siegel of The Washington post says "While inflation is rising everywhere, price hikes are particularly devastating to lower-income households with already tight budgets."  This is a unfair disadvantage to the poor and lower-income Americans.   As the prices of many goods skyrocket at an unprecedented rate in the past few years; therefore, we must take a look at the many factors which I believe has wade a heavy toll on the American economy with higher pricing and increased rates that weigh a burden on poor and middle-class households, which I believe inflation is not the answer.  According to Paul Hannon, "In 2022, Consumer-Price Index rose at its fastest, past in more than four decades."  Wall Street Journal- Online Edition 4/10/23.   The recent cause of inflation is  a series of events that has impacted the market on a global scale. Impact of the COVID-19 Pandemic Disrupting Supply Chains, causing shortage of supplies globally as well as the Russian invasion in Ukraine that 

 

America has supported with more than 75 billion dollars in aid.  Many people argue that deflation will hurt the economy more than inflation, but statistics have shown inflation leads to recession and even crippling the economy further with bank closures.

 

               I oppose Inflation and ask the question of why are rates going up when most of Americans have not fully recovered from Covid-19 and the impact of the pandemic, and much more social injustices in American society. It may sound cliche but to have 75 billion to hand to another nation when we have issues that has not been resolved has me Question whether they want to address issues like climate change, immigration, gun control, and reparations for the African American community.  Being African American myself that 75 billion dollars may be equivalent to the promise of 40 acres and a mule during the Civil War that was never claimed if not more. While under the Homestead act of 1862  Immigrants who arrived  in America was given free land by traveling west.  As for climate change policy makers in advanced economies and Emerging markets consume green energy. Leverage green technology and environmental 

 

Innovations. According to YE, Maoran, "Green technology and environmental innovations counterbalance the inflation issues induced by the higher rates 

 

of oil prices without halting the economic growth and sustainable development."

 

               In the U.S., most of the responsibility of controlling inflation is the Federal Open 

 

Market Committee (FOMC).  Which I believe has failed the underserved and minority 

 

communities since its conception. Leslie Kramer states, "Governments relatively few 

 

ways to stop inflation.  They can put a cap on prices, but the broad price controls required 

 

to impact inflation don't have a great track record."  This issue means that it is not up to the 

 

government to take action on how we control the way we eat, but to the people 

 

Grow food and have a community market. Green energy, weather it is electric 

 

through solar power or turbine. We as the people must commit to how we will solve 

 

problems.

 

 

               Higher inflations have never faired the poor and middle class 

 

communities.  There are better solutions than to inflate prices. We cannot allow the government 

 

to increase pricing  an not address solutions.   Americans are capable of 

 

addressing through innovation and public strategy. I think we  Because Americans 

 

should dig deeper into why we're raising rates and who it affects.  American households 

 

are still reeling from the impact of Covid-19, and price increases have and have not fully 

 

recovered. Why are we raising rates at an all time high when the minimum wage is 

 

7.25 an hour that has not changed since 2009 This issue is an extremely unfair policy and 

 

students can see that the math doesn't add up.

 

Source

 

Rachel Siegel. " 'Survival mode': Inflation falls hardest on low-income Americans Wall Street Journal- Online Edition Feb 13, 2022 https://www.washingtonpost.com/business/2022/02/13/low-income-high-inflation-inequality/

 

 

Hannon, Paul. "Food Prices are New Inflation Threat for Governments and Central Banks." Wall Street Journal- Online Edition 4/10/23 https://0-web-s-ebscohost-com.libcat.sanjac.edu/ehost/pdfviewer/pdfviewer?vid=3HYPERLINK "https://0-web-s-ebscohost-com.libcat.sanjac.edu/ehost/pdfviewer/pdfviewer?vid=3&sid=e333cea2-45e9-4aec-9948-3c0845e81a44%40redisinternet"&HYPERLINK "https://0-web-s-ebscohost-com.libcat.sanjac.edu/ehost/pdfviewer/pdfviewer?vid=3&sid=e333cea2-45e9-4aec-9948-3c0845e81a44%40redisinternet"sid=e333cea2-45e9-4aec-9948-3c0845e81a44%40redisinternet accessed  9 April. 2023

 

YE, Maoran. "The effect of global supply chain and oil prices on the inflation rates in advanced ecoomies and emerging markets." Geological Journal- 4 Mar2023 https://0-web-s-ebscohost-com.libcat.sanjac.edu/ehost/detail/detail?vid=5HYPERLINK "https://0-web-s-ebscohost-com.libcat.sanjac.edu/ehost/detail/detail?vid=5&sid=e333cea2-45e9-4aec-9948-3c0845e81a44%40redis&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#AN=161461201&db=a9hThe"&HYPERLINK "https://0-web-s-ebscohost-com.libcat.sanjac.edu/ehost/detail/detail?vid=5&sid=e333cea2-45e9-4aec-9948-3c0845e81a44%40redis&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#AN=161461201&db=a9hThe"sid=e333cea2-45e9-4aec-9948-3c0845e81a44%40redisHYPERLINK "https://0-web-s-ebscohost-com.libcat.sanjac.edu/ehost/detail/detail?vid=5&sid=e333cea2-45e9-4aec-9948-3c0845e81a44%40redis&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#AN=161461201&db=a9hThe"&HYPERLINK "https://0-web-s-ebscohost-com.libcat.sanjac.edu/ehost/detail/detail?vid=5&sid=e333cea2-45e9-4aec-9948-3c0845e81a44%40redis&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#AN=161461201&db=a9hThe"bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#AN=161461201HYPERLINK "https://0-web-s-ebscohost-com.libcat.sanjac.edu/ehost/detail/detail?vid=5&sid=e333cea2-45e9-4aec-9948-3c0845e81a44%40redis&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#AN=161461201&db=a9hThe"&HYPERLINK "https://0-web-s-ebscohost-com.libcat.sanjac.edu/ehost/detail/detail?vid=5&sid=e333cea2-45e9-4aec-9948-3c0845e81a44%40redis&bdata=JnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#AN=161461201&db=a9hThe"db=a9hThe accessed 9 April 2023

 

Leslie Kramer. "How Do Governments Fight Inflation?" Investopedia-March 23,2023 https://www.investopedia.com/ask/answers/111314/what-methods-can-government-use-control-inflation.asp