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4min chapter
TIP514: Permanent Supply Chain Disruptions That Will Sink the Economy w/ Jim Rickards
We Study Billionaires - The Investor’s Podcast Network
The Fed Can't Do Anything About the Supply Side
We had a severe recession in 1974. The inflation came back because the oil price didn't go away. And then we had two gross and incompetent chairs of the Fed, Arthur Burns and Jim William Miller. They put the pedal of the metal with money supply. Then the inflation took up, but then it morphed over to the demand side as I described earlier. So here we are today. There's no evidence that the inflation, at least not yet, is coming from the demand side. We have inflation, disflation and deflation sooner than people expect. It works that way, but we're probably already there.
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