On Thursday’s broadcast of CNN’s “OutFront,” Johns Hopkins University Economics Professor Steve Hanke dismissed the “utter rubbish” claims that the Build Back Better reconciliation bill will help with inflation and said that even if no more money was put into the economy, “we’d still have a big inflation problem that will last through 2024.”
Hanke said, “This is utter rubbish what you’ve just played. Inflation is always a monetary phenomenon. It’s how much money the Federal Reserve and the commercial banking system is creating. And they’ve got so much money excess in the monetary bathtub right now that no matter what they do, if they completely cut the spigot off and didn’t put anything in, we’d still have a big inflation problem that will last through 2024.”
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