I don't know why he continues to have a platform, but apparently a Ph.D affords him some cult of personality respect along side his credentials. Neither of which excuses him from the bullshit he's pretending to talk about.
A couple of things:
The fed is not raising rates because inflation is being driven up by wage increases. I'm not exactly sure how someone with the credentials he has rationalises this argument.
In any case, just to be clear, wage increases lag behind inflation. That is part of the reason why inflation hits harder for non-asset class low income people than those who are asset rich - the investor class. It's quite ironic that he was a supporter of the monetary expansions which are the bigger reason for the inflation.
Finally, corporations with outsized market power are not driving up prices because of greed / profit. We know this because the PPI has risen more than the CPI. This is indicative of the opposite which is that these 'greedy profit driven corporations' have actually held off on raising prices despite having material increases in costs to produce these goods.
I am often told I shouldn't state basic facts (inflation = Fed) because I don't have a PhD.
Hell, I know more than this moron
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