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higher inflationFoxbusiness
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Art Laffer : We printed way too much money, the Fed 's balance sheet grew too much, and our economy has grown way too slowly.
And if you have more money and less goods, you're going to get inflation, he says.
He says the only reason the country ever exports goods is to be able to earn the wherewithal to buy goods from foreigners.
Laffer says tariffs will raise the price of foreign goods, but exports will go down in prices.
Paul Volcker followed interest rates and just made sure that the discount rate was slightly above the the 90 day T bill rate so that people didn't borrow from the banks excessively.
That's a silly policy, and it always leads to an expansion in the balance sheet and higher inflation.
Unless they change their ways, I don't see that this problem is over with..
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