Fed's 'wait and see' approach to inflation could be a problem, Laffer Jr. warns

Federal Reserve meeting minutes to forecast interest rate hikes

Laffer Tengler Investments President Arthur Laffer Jr. cautioned that the Federal Reserve's approach to tackling inflation could be a problem on "Mornings with Maria" Wednesday, warning they'll wait until the "fire's going on."

ARTHUR LAFFER JR.: The Fed has historically not acted ahead of the market. What they do is they really don't want to take off the gas; they like the gas and the economy being accommodative on credit. And also, this Fed's a lot more dovish than it was before...

They're going to really wait until they really think the fire's going on, inflation, if that's the case. So yeah, I wouldn't expect this Fed to be aggressive at all.

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