CNN’s Quest: Inflation Will ‘Continue to Rise for the Foreseeable Future’

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    On Monday’s broadcast of CNN’s “New Day,” CNN Business Editor at Large and host Richard Quest stated that inflation will “continue to rise for the foreseeable future. It might slow down a bit, but prices are going to continue to rise, for the foreseeable future.” And “the medicine that the Fed is delivering has only just started. … We’re talking about later this year, early into next, mid into next.”

    Quest said, “[Y]ou’re going to see inflation continue to rise for the foreseeable future. It might slow down a bit, but prices are going to continue to rise, for the foreseeable future. That is going to happen. Oil and gas [are] designated and driven by external factors. So, you’re going to be looking at Ukraine. You’re going to be looking at Saudi [Arabia]. You’re going to be looking at the ability of Texas and North Dakota and South Dakota to generate more oil and gas. Those are the factors. But we are — the medicine that the Fed is delivering has only just started. This, I think, is crucial, people see rates going up by three-quarters of a percent twice. And they think, oh, it’s all going to happen. We’re talking about later this year, early into next, mid into next.”

    Follow Ian Hanchett on Twitter @IanHanchett

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