Inflation is like 'cocaine addiction', the Fed is hooked and wants more - E.B. Tucker
Headline inflation came out stronger than expected on Thursday, at 5.0%, as compared to the consensus expectation of 4.8%.
The government wants higher inflation and is creating policies that would be conducive to higher prices and higher wages, said E.B. Tucker, director of Metalla Royalty.
“Minimum wage is basically $15 an hour now. It’s really hard to find people that are paying less than that. That’s good for government. Higher wages means higher payroll taxes,” Tucker told David Lin, anchor for Kitco News.
For more information on Fed monetary policy, watch the video above.