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.
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By David LinFor Kitco News
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