Kitco News, Released on 7/18/22

Steve Hanke, professor of Applied Economics at Johns Hopkins University, has accurately predicted that inflation in the U.S. will reach 6% to 9%. With the latest headline CPI release coming in at 9.1%, Hanke told David Lin, Anchor for Kitco News, that inflation has peaked for now.

0:00 – Peak inflation
4:30 – The Price Is Right
9:45 – Living standards vs. inflation
12:30 – GDP forecast
14:19 – Inflation relief checks
18:00 – Europe’s response to inflation
21:45 – No such thing as a ‘free lunch’
25:00 – Scandinavian living standards
28:22 – Quantity Theory of Money
32:00 – Money velocity
35:28 – Taxes vs inflation
41:00 – Price control
43:29 – Gold sentiment index

Steve Hanke is an American applied economist at the Johns Hopkins University in Baltimore, Maryland. He is also a senior fellow and director of the Troubled Currencies Project at the libertarian Cato Institute in Washington, DC, and co-director of the Johns Hopkins University’s Institute for Applied Economics, Global Health, and the Study of Business Enterprise in Baltimore, Maryland. Hanke is known for his work as a currency reformer in emerging-market countries. He was a senior economist with President Ronald Reagan’s Council of Economic Advisers from 1981 to 1982, and has served as an adviser to heads of state in countries throughout Asia, South America, Europe, and the Middle East. He is also known for his work on currency boards, dollarization, hyperinflation, water pricing and demand, benefit-cost analysis, privatization, and other topics in applied economics. Hanke has written extensively as a columnist for Forbes magazine and other publications. He is also a currency and commodity trader.

  economy, inflation, steve hanke