On Tuesday’s broadcast of the Fox Business Network’s “Mornings with Maria,” Rep. Greg Murphy (R-NC) stated that inflation will increase due to states spending unallocated coronavirus relief funds and that due to people cutting spending on dispensible goods due to inflation, “we will be going into a recession.”
Host Maria Bartiromo asked, “All of that money hasn’t even gone out yet. One of your colleagues told me the other day that some states have gotten hundreds of billions of dollars and that money hasn’t been appropriated yet. So should we expect that inflation worsens from here?”
Murphy responded, “I think it does. And this fantasy that we’re not going to go in[to] a recession is absolutely absurd. Secretary Yellen said that. Biden has said that. You know guys, when prices are so high and consistently high, people have to choose between gas, food, and other disposable items, well, disposable items are going to go out the window. They’re not going to purchase this. So, we will be going into a recession. I’m not an economist. It doesn’t take an economist’s degree to see that, but this inflation is not going away any time soon. And so, that’s what we’re going to face.”
Follow Ian Hanchett on Twitter @IanHanchett
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