On Thursday's broadcast of CNN International's "First Move," Professor of Public Policy and Professor of Economics at Harvard University Ken Rogoff said that inflation in the United States is "just way too high. It's not getting under control." And predicted that the Federal Reserve will not do enough to stop inflation, but will cool it down because "they won't want to have an epic recession. I'm not even sure they can pull that off." Rogoff also argued that the Biden administration was "pouring buckets of fuel" onto "the inflation fire" with its "massive stimulus." Rogoff said, "I think, in the end, they are going to pull up short. It's true that if they wanted to really just wring inflation out of the system, and here we're talking especially about the United States, where the — particularly, the last year, year-and-a-half has just had too much stimulus too late. The inflation's just way too high. It's not getting under control. It would be nice to have it under control, but just how big a recession do you want to tolerate on top of so many other things? I suspect that they'll end up, in two years, having raised interest rates to 3 or… Read full this story
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Harvard Economist: Inflation 'Not Getting Under Control' 'Not Even Sure' Fed Can 'Cool' It Without Recession have 301 words, post on www.breitbart.com at May 13, 2022. This is cached page on xBlogs. If you want remove this page, please contact us.