NEW: Powell is asked about the surge in gold and Bitcoin, with the moderator noting Greenspan once viewed gold as a gauge of inflation risk.
He dodges, saying he “won’t comment on a particular asset price” and that “inflation is driven by supply and demand.”
https://blossom.primal.net/71602eaa82110b1d0d6e4e69dcb88943276fc1d178a94bf9397f69da9bca18b3.mov
"Inflation is always and everywhere a monetary phenomenon."
-Milton Friedman
Supply and demand is supply and demand, inflation is a different kettle of fish entirely.
"Inflation is supply and demand" is a semantic distraction. Printing money is the only root cause of inflation and pointing to things that slow or speed up the impact is a way to hide the crime.
You can tell didnt want to repeat his favorite word!
😂
Denial ain't just a river in Egypt!
Who cares?
