As the IMF warns of surging inflation, the Federal Reserve maintains its decision to keep pandemic-era policies in place. Andy Puzder, the former CEO of CKE Restaurants, joined FOX Business’ “Mornings With Maria” to discuss the potential for market recovery and projected that inflation will continue to be an issue until the U.S. implements policies that incentivize return to work.
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ANDY PUZDER: It’s certainly true that the supply chains were hobbled during the pandemic, but if you want to restore the supply chains, you have to have people working. People need to get back to work so that we can get the goods and services that the economy needs. And people aren’t going back to work in the United States because we have policies that discourage people from working. So you’re not really seeing the labor market recover like we expected it to recover. Even liberal economists expected it to recover. And until we see a return to work, you’re really not going to see that supply chain improve.
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And even when you do, if you’ve also got discouraging policies on energy, which are keeping energy prices up, you’re still going to have an impact from inflation. So this is going to be with us for a while. They’re looking at these glitches in the supply chain. They’re not looking at the overall supply chain or the incredible demand that’s out there right now since there’s been so much government largesse. It’s not just the supply side, but the demand side is incredibly high while the supply side is really crippled. So we have some problems to work through here, and I think they’re being overly optimistic.
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