Inflation is now at 7%, the highest in 40 years, and will stay until 2024 – Steve Hanke

Home Economy Inflation is now at 7%, the highest in 40 years, and will stay until 2024 – Steve Hanke
Inflation is now at 7%, the highest in 40 years, and will stay until 2024 – Steve Hanke

Headline CPI climbed to 7% in December 2020, the highest level since 1982, according to data released Wednesday by the U.S. Bureau of Labor Statistics.

Steve Hanke, professor of applied economics at Johns Hopkins University told David Lin, anchor for Kitco News, that inflation will likely remain elevated until 2024, after which the Federal Reserve will have to focus on reducing the money supply.

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

#economy #inflation #Fed
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