20 min listen
Fed's impact on inflation: what investors got wrong - Steve Hanke
Fed's impact on inflation: what investors got wrong - Steve Hanke
ratings:
Length:
19 minutes
Released:
Oct 29, 2020
Format:
Podcast episode
Description
One of the main lessons from the last financial recession of 2008 is that the U.S. economy did not see double-digit inflation rates when quantitative easing was launched, said Steve Hanke, professor of applied economics of Johns Hopkins University.
"All the gold bugs in the world said that the Fed was exploding its balance sheet, the narrow measure of money was going up very fast, we're going to have hyperinflation. No, we didn't have hyperinflation because the Fed is a very small part of the broad money picture, and broad money never grew very fast, it never grew more than about 5% per annum," Hanke told Kitco News.
"All the gold bugs in the world said that the Fed was exploding its balance sheet, the narrow measure of money was going up very fast, we're going to have hyperinflation. No, we didn't have hyperinflation because the Fed is a very small part of the broad money picture, and broad money never grew very fast, it never grew more than about 5% per annum," Hanke told Kitco News.
Released:
Oct 29, 2020
Format:
Podcast episode
Titles in the series (100)
$100k bitcoin next year: why 2021 will shatter all records - OKCoin CEO: Bitcoin is becoming 'digital gold' and there is a case to be made for the recent price surge to continue to $100,000 by 2021, says Hong Fang, CEO of OKCoin, one of the largest crypto exchanges in the world. Fang argues that should bitcoin catch up to even 25% of gold's global market capitalization of $9 trillion, that figure would amount to a price range for BTC of $80,000 to $100,000. by Kitco NEWS Interviews