On Monday’s broadcast of CNN’s “New Day,” CNN Business Editor at Large and anchor Richard Quest said inflation “will continue to rise for the foreseeable future. It may slow down a bit, but prices will continue to rise for the foreseeable future.” And “the medicine the Fed delivers has only just begun. … We’re talking about later this year, early next year, in the middle of next year.”
Quest said, “[Y]you will see inflation continue to rise for the foreseeable future. It may slow down a bit, but prices will continue to rise, for the foreseeable future. This is about to happen. Oil and natural gas [are] determined and driven by external factors. Well, you will look at Ukraine. You will look at Saudi Arabia [Arabia]. You will look at the ability of Texas and North Dakota and South Dakota to produce more oil and natural gas. These are the factors. But we are — the medicine the Fed delivers has only just begun. That, I think, is critical as people see rates go up three-quarters of a percent twice. And they think, oh, everything will work out. We’re talking about later this year, early next year, in the middle of next year.”
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