
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.
- Turkey Faces Massive Currency Fire-Sale As Lira Plunges
- No Matter How Much Soros Spends, The Left Has Peaked…It’s Over
3 comments
[…] Fed’s Inflation Efforts ‘Likely To End Disastrously’ […]
[…] Fed’s Inflation Efforts ‘Likely To End Disastrously’ […]
[…] Fed’s Inflation Efforts ‘Likely To End Disastrously’ […]