“The problem we have is that the [Fed Chair Jerome Powell] does not understand … what the causes of inflation are and were,” said the Johns Hopkins professor.
Meanwhile, inflation is going to remain high because of"unprecedented growth" in money supply in the United States, Hanke said.
"That is why we are having inflation now, and that's why, by the way, we will continue to have inflation through 2023 going into probably 2024," he added."The bottom line is we're going to have stagflation — we're going to have the inflation because of this excess that's now coming into the system," he added.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
U.S. Treasury Yields Rise After Fed Chair Powell Signals Further Interest Rate HikesU.S. Treasury yields were higher on Monday as investors digested comments from Federal Reserve Chair Jerome Powell.
Weiterlesen »
What happens next now that Jackson Hole is over? More Fed hawkishness is in the cardsThe Federal Reserve will expand on Fed Chairman Jerome Powell's hawkish message beyond his message Friday that a 'Fed pivot' was not going to happen.
Weiterlesen »
AUD/USD: Bears kicking off the week below 0.6900, eyes on Australian dataAUD/USD is trading below 0.7000, starting a brand new week on the back foot, as US dollar bulls keep the upper hand following Fed Chair Jerome Powell’
Weiterlesen »
World Bank president on Fed's inflation fight: Central banks have more tools than rate hikesWorld Bank President David Malpass responds to Fed Chair Jerome Powell's concern over combatting inflation and the options world governments have to increase production.
Weiterlesen »
Asia-Pacific Markets Rise After Sharp Falls in Previous SessionShares in the Asia-Pacific rose on Tuesday after sharp falls to start the week following Fed Chair Jerome Powell’s hawkish speech in Jackson Hole.
Weiterlesen »
Fed chief Powell's speech was 'ludicrous,' says Dartmouth economist and leading doveFed Chairman Jerome Powell's Jackson Hole speech was ludicrous, said David Blanchflower, an economics professor at Dartmouth College.
Weiterlesen »