Inflation surges to highest level in 30 years, Biden is about to press 'panic button' - Steve Hanke

Steve Hanke, professor of applied economics at Johns Hopkins University, discusses with David Lin, anchor for Kitco News, the implications for investors of higher inflation.

"[Inflation] could go higher and the main thing is persistence. This talk we have, it's all political nonsense...they're talking about inflation being temporary, and it's a supply chain problem. This is just utter rubbish. The CPI and inflation are driven by the money supply growth," Hanke said. "And, we've had a massive amount of excess money created by the Fed since the Coronavirus pandemic hit."

For information on what the government is likely to do in response, watch the video above.

Follow David Lin on Twitter: @davidlin_TV (https://twitter.com/davidlin_TV)

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By David Lin

For Kitco News

Follow @davidlin_TVdlin@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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