Eric Hovde: “The Federal Reserve, the government's bank, had to go buy a…”

“They spent $4.7 trillion after the economy already had been removed from lockdown. And Covid, the economy was already going back, you know, coming back strong and they spent $4.7 trillion. So The Federal Reserve, the government's bank, had to go buy a large chunk of that debt. You can look at the Federal Reserve balance sheet. It went way up and they had decreased the money supply. What is inflation? It's real simple.” (03:29–03:34)

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