EXCLUSIVE: Fed Was Wrong On Inflation, 'We're Making It Very Hard For The Poor And The Middle Class To Catch Up,' Says Scaramucci
Portfolio Pulse from Chris Katje
Anthony Scaramucci, founder of SkyBridge Capital, criticized the Federal Reserve's handling of inflation in an interview with Benzinga. He believes the Fed was late in reacting to high inflation and that its data is lagging, making it hard for the poor and middle class. Scaramucci predicts a soft recession and a need for the Fed to cut rates. He also expressed concern over the high level of US debt, which he believes will lead to the devaluation of the US dollar. He suggested that cryptocurrencies and houses could increase in value and outpace inflation if the dollar's value decreases.
October 13, 2023 | 5:45 pm
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Scaramucci's comments suggest a bullish outlook for Bitcoin as a hedge against inflation and potential devaluation of the US dollar.
Scaramucci's comments suggest that he sees cryptocurrencies, specifically Bitcoin, as a potential hedge against inflation and the potential devaluation of the US dollar. This could lead to increased interest and investment in Bitcoin, potentially driving its price up in the short term.
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IMPORTANCE 70
RELEVANCE 80