Mass. (WWLP) – Congressman Richard Neal is calling the rise in gas prices and inflation an international problem.
It comes after President Biden’s Treasury Secretary Janet Yellen said she underestimated the inflation we saw this past year. Congressman Neal told 22News inflation is being brought on by the pandemic’s impacts in China, leading to supply chain issues, but also the Russian invasion of Ukraine has complicated the energy market.
Congressman Neal said, “What Secretary Yellen said yesterday, that’s to be acknowledged. But I also think that our plan as they go forward is to try through the federal reserve board to tamp down some demand.”
The federal reserve has been raising interest rates in recent months to combat inflation.