A report out this week shows inflation is and has been slowing for five straight months. Business analyst David Sowerby, managing director and portfolio manager at Ancora in Bloomfield Hills, said this is good news but more still needs to be done.
“The Federal Reserve is what created the high inflation by just simply giving a sugar buzz to the economy with too much money supply creation. Now, they’re the ones most importantly who have to fix the problem they created. They are the ones that have to come to the rescue, and I think they are.”
The latest figures show consumer prices rose 7.1% in November from a year ago, down sharply from 7.7% in October.
