Stephen Moore, lead economist at a free-market advocacy group, said large U.S. companies—or what President Joe Biden called monopolies—are not the cause of inflation, but rather uncontrolled federal spending.
Moore told the host of NTD’s “Capitol Report” Steve Lance that there are two main causes of inflation: “One is the Fed, which has been way behind the curve in terms of this zero-interest-rate policy and flooding the economy with cheap dollars. And the second is the massive spending and borrowing multi-trillions of dollars by the Biden administration.”
