Everyone Is Keeping an Eye on the Fed and Inflation

Automatic TRANSCRIPT

Financial front, as I said, we had a great discussion today about inflation. I think it's going to continue on. I think that the fed, everybody's watching, of course, Jerome Paul very, very carefully, but I think that the fed is really not going to have a choice but to continue. It's aggressive interest rate stance. It's frankly not aggressive enough from my standpoint, only because I'm looking at the inflation that we have today. If you look at this on an orange to orange basis or apples to apples, basis what you find is that inflation is much more like what we had in the early 1980s. In other words, when you use the same metrics that they used back in the early 80s, you find, you know, we're right there. We're like 15, 16%. Inflation. So what happened then, Paul Volcker stepped in, you had a major effort there and a coordination, frankly, because I don't think he could have done it without Ronald Reagan going for it. And so that was a testament to the leadership of Reagan as well that they were able to come in there and actively move on interest rates in a very aggressive way. You don't have that happening right now. And thus, there's so much money. And

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