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Former Reagan Advisor Thinks U.S. Economy Is On A Dangerous Path, But Still Likes These 3 Investments [Yahoo! Finance]
Last apple inc. earnings: 4/30 04:30 pm
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US:NASDAQ Investor Relations: investor.apple.com
Advisers, shared his thoughts on the current state of the U.S. economy and the investments he recommends in light of the potential challenges ahead. Hankey, who has taught economics at Johns Hopkins University and served as a senior adviser to the Joint Economic Committee of the U.S. Congress, believes that the Federal Reserve's actions have played a significant role in the recent inflation surge. “The Fed currently poo-poos the quantity theory of money,” Hankey said, adding that “they don't even look at the money supply. That's not in the models they use.” According to Hankey, this oversight led to the Federal Reserve “flying blind” and failing to predict the inflation spike. He and his colleague, John Greenwood, accurately predicted that inflation would reach 9%, which it did in June 2022. Hankey also expressed concern about the growing role of the government in decision-making, particularly regarding industrial policy. He warns that if the U.S. continues on this path, the eco
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