Inflation Outlook: Insights from Prominent Economists

Veteran economist Steve Hanke believes that the US no longer has an inflation problem, citing a contraction in money supply and the recent lower-than-expected inflation rate of 3% for June. Hanke argues that the producer price index and consumer price index are both falling, indicating a decline in inflation. He suggests that if the Federal Reserve continues its current policies, inflation could reach the target range of 2% quickly.