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Fed’s Inflation Efforts ‘Likely To End Disastrously’

Fed’s Inflation Efforts ‘Likely To End Disastrously’
FOMC Chairman Powell answers a reporter’s question at the press conference

Morgan Creek’s Anthony “Pomp” Pompliano says the Federal Reserve’s attempts to control inflation are likely to end in disaster — which will benefit Bitcoin.

The Fed is currently completing an annual policy review and reportedly considering a plan to not raise interest rates until inflation hits 2%. In a Aug. 5 letter to subscribers titled The Wizards of The Federal Reserve Pomp said the Fed’s efforts to ramp up inflation has put it “on a path that could end disastrously.”

He stated the nature of the U.S. economy means it is “nearly impossible to manipulate with nuanced control” and the central bank has a poor record with inflation targets over the years, having only “come within +/- 10% of that target 3 of the last 10 years…”

To read more visit CoinTelegraph.

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