FED Ignoring Top Economist On Inflation

Objectivity 4.8 | Credibility 4.7 | Relevance 4.9

“The probability of recession, I think it’s much higher than 50 percent…. Maybe even higher than 80 percent” said Steven Hanke, John Hopkins University applied economics professor.  He said the Federal Reserve has failed to look at the real cause of inflation — money supply. CNBC explained that when consumers have lots of money, prices rise because consumers are willing to spend more. Hanke said the Fed is “going to introduce quantitative tightening” which will drive the economy into “negative territory.”