Jeff Cox: Persistent Inflation puts The Fed in a Tough Spot

This year began with a strong and resilient economy, with unemployment remaining low and hopes high for interest rate cuts in the near future. However, things have taken a turn. Recent economic data is showing that inflation is staying persistent and well above the 2% goal set by the Fed. Now, rather than hopes for rate cuts, the conversation is shifting and fears are growing of further rate increases this year. 

Jeff Cox from CNBC joins Boyd to talk about how monthly saving rates are down due to people spending more than they are bringing. There are also concerns with the national debt continuing to rise from continued government spending. These red flags are creating problems for the Feds.

While the future is looking bleak, there is still hope. It will take diligent effort and a rocky landing but as we watch spending closely and look for future rate cuts.

Inside Sources brings a one-of-a-kind insider perspective to Utah and national politics.