The author of “The Price of Tomorrow,” Jeff Booth, has warned about debt deflation, calling it a “great depression on steroids,” if the Federal Reserve continues to hike interest rates. He believes that eventually the Fed “will be forced to pivot.” Jeff Booth Warns About Danger of Continued Fed Rate Hikes The author of “The Price of Tomorrow,” Jeff Booth, shared his thoughts in an Ask-Me-Anything session on Stacker News last week. Among numerous questions asked was whether he believes the recent Federal Reserve interest rate increases will actually cause widespread deflation. Booth replied: If they keep hiking, it will ‘eventually’ turn into debt deflation — or credit wipeout. (ala great depression on steroids). Eventually, they will be forced to pivot. “One important consideration for people is to think in terms of lag effect…ie 18 months from when actions are set in motion,” he continued. “Remember when no inflation, transitory inflation, high inflation,” Booth added, cautioni
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