Wpkn Community Radio

Dr. Jack Rasmus, professor emeritus in Economics at St. Mary's College, gives his assessment of the US economy in 2022 and offers his predictions for 2023. Dr. Rasmus' analysis differs from that of mainstream economists: he identifies the main cause of inflation as a "supply side" problem as opposed to a problem of too much demand. He argues that the single-minded strategy of Fed interest rate hikes will not solve the root causes of inflation and will certainly lead to a recession in 2023. Interview by Richard Hill