CPI - Peter Schiff Blasts Misinterpretation Of Recent Core CPI Data: 'Soaring Public And Private Debt Means Higher Inflation' To Come | Benzinga
Well-known economist Peter Schiff has challenged the interpretation of recent core CPI data, stating that it does not reflect the real inflation situation, which he believes is linked to the surge in public and private debt.
What Happened: On Tuesday, Schiff took to Twitter to air his views on the recently released core CPI data. He argued that those claiming this data as evidence of inflation nearing the Federal Reserve’s 2% target don’t understand the real concept of inflation.
Schiff links inflation to the excessive demand created by an increase in the supply of money and credit. Soaring public and private debts, according to him, will push inflation higher.
Anyone claiming that recent core CPI data evidences #inflation is close to the Fed's 2% target doesn't understand inflation, which is a function of the excess demand created by an expansion of the supply of money and credit. ...