‘Roaring’ Inflation To Force Rate Hikes; This Explodes Next | Steve Hanke
Economist Steve Hanke argues that with inflation running at 4.2%—more than double the Fed's 2% target—the central bank will likely be forced into multiple rate hikes by year-end despite recent hesitation, as accelerating money supply growth driven by commercial bank lending continues to fuel price pressures regardless of Federal Reserve policy statements.