Analyst slams Fed over inflation expectations: Powell 'way off the plot'
There will be strained contradictions as inflation increases, Keith Fitz-Gerald said
Fitz-Gerald Group CIO Keith Fitz-Gerald provides insight into rising prices and inflation.
Fitz-Gerald Group chief investment officer Keith Fitz-Gerald joined FOX Business' "Varney & Co." to discuss the Federal Reserve and inflation. He argued that Jerome Powell is "way off the plot" after he predicted that prices would "reverse over time."
USED CAR PRICES STEER TOWARD FED CHAIRMAN POWELL'S INFLATION HUNCH
KEITH FITZ-GERALD: The right corporations have pricing power because this is companies like Big Tech, for example, that can expand and maintain their margins.
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Even if the economy slows down or prices go higher, people are not going to give up a new iPhone, but they're going to stop buying a loaf of bread. So there's going to be some real, real strange contradictions that come forward as inflation increases.
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I think the Fed is messed up terribly. I think Jerome Powell is way off the plot here, and I don't think he gets it.
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Fitz-Gerald Group CIO Keith Fitz-Gerald provides insight into the markets and inflation.