As analysts ponder whether inflation in the United States has turned a corner following the latest data, a former Walmart U.S. chief executive says that inflationary pressures are here to stay longer and will hurt American households more than the looming recession.
Former Walmart U.S. CEO Bill Simon told Fox News in a recent interview that inflation is a bigger risk to U.S. wallets that the impending economic downturn.
“Inflation has been just a killer on the consumer, especially food and rent,” he told the outlet. “It’s just brutal. It’s very difficult to overcome.”
The former CEO said that it’s hard to imagine a recession happening unless there are big changes in the job market, which recent data shows remains quite tight….