Finance

‘Impotent’ Fed policy can’t stop 1970s-type inflation: Peter Boockvar

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Most people want to forget this part of the 1970s.

But inflation is back, and investor Peter Boockvar predicts it will be the most widespread in decades.

“Monetary policy … is right now impotent in its ability to stimulate economic activity,” the Bleakley Advisory Group chief investment officer told CNBC’s “Trading Nation” on Wednesday.

Boockvar warns the issue is particularly evident in the housing market, which is the most sensitive to changes in rates.

“We are at a point where very low interest rates are no longer stimulative to the housing market,” he said. “On the purchase side, we know the dearth of inventories and sticker-shock price increases are slowing the pace of…



Source cnbc.com

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