(Reuters) – Higher inflation does not affect all households equally, with people on fixed incomes taking a bigger hit, New York Federal Reserve Bank President John Williams said Friday.
“There are definitely segments … of our labor force and economy that are more protected against inflation and there others who are less so,” Williams said during a webinar organized by the New York Fed. “People on fixed incomes are obviously less protected against surprisingly high inflation.”
(Reporting by Jonnelle Marte; Editing by Chizu Nomiyama)
