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Steve Forbes said the administration and the Federal Reserve are to blame for inflation and a potential recession. The Forbes editor-in-chief joined “Faulkner Focus” to discuss the federal government looking for “scapegoats” for their economic failures.
STEVE FORBES: The administration really started the blame game. First, they try to say it’s all Vladimir Putin, of course, and then they’re going to be pointing fingers as they are at oil company executives, food producers and others out there, drug manufacturers and the like. Everyone but them. And my book, Inflation, which we just came out with. … one of the things we point out is that governments, for centuries, when things go wrong, they look for scapegoats as this administration is. In Roman times, they blamed the Christians and in medieval times, it was witches. Today, it’s oil company executives. But the real villain is twofold. One, the administration is hurting the recovery from COVID. And two, the Federal Reserve created too much money, attacked the integrity of the dollar. Now they’re trying to clean up the mess they created.
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