Worried about inflation? Don't focus on the Fed

Fiscal policy is going to drive inflation, according to Ronald-Peter Stoeferle.

Stoeferle spoke to Kitco on Friday. He is managing partner at Incrementum AG.

“I think we should focus less on what the central banks are doing, and we should focus more on what fiscal policy is,” said Stoeferle. On Monday President Biden signed a $1 trillion infrastructure bill.

“I think we should focus on what’s coming from the White House in regards to infrastructure projects … because this has a direct impact on economic growth, but also on inflation compared to the past decade of quantitative easing.”

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