“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.
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