Harvard economist Kenneth Rogoff predicts inflation will continue into next year.
“It’s not so easy to raise interest rates to fight inflation when public and private data is high, when the stock market is high, when housing prices are high, when the economy is still weak,” Rogoff told Fox Business’ Maria Bartiromo. “It takes a lot of stomach.”
Rogoff predicted, since policymakers at the Federal Reserve must balance the need to stop runaway inflation by raising interest rates while at the same time avoiding a recession, they will probably be “cautious” and will not drastically raise rates. This is why “we’ll still have inflation in 2023,” Rogoff said.
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