No chance of inflation decelerating in 2022: Fmr. National Economic Council director
US will continue to experience inflation in 2022, Larry Lindsey said
No chance of inflation decelerating: Fmr. National Economic Council director
The Lindsey Group CEO Larry Lindsey discusses his outlook for the economy in 2022.
Former National Economic Council Director and The Lindsey Group CEO Larry Lindsey joined "Mornings with Maria," Wednesday, arguing that there’s "no chance" of inflation decelerating and discussed his outlook for the economy in 2022.
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LARRY LINDSEY: We now have inflation embedded into the labor market. We have a classic wage-price spiral in all of history in the US anyway. There is never an example of getting inflation to this level, embedded in the labor market and it ending without recession… I don't think we're going to have a recession this year. Slower growth, maybe. So I don't think there's any chance at all decelerating inflation.
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So until you get the overnight interest rate up somewhere close to at least the prevailing inflation rate, you're really not going to make a dent in inflation… We're going to continue to have inflation this year, probably at or maybe even a little above what last year's pace was.
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US will continue to experience inflation in 2022, former National Economic Council warns
The Lindsey Group CEO Larry Lindsey argues that inflation is ‘embedded’ into the U.S. labor market in 2022.