"We are heading for an economic disaster by CHOICE!" President Reagan's Economic Advisor Admits

The Federal Reserve raised its benchmark interest rate by 25 basis points, a unanimous decision signaling that fighting inflation is the top priority. Fed Chair Kevin Warsh described the U.S. economy as resilient, but economist Steve Hanke argues the real issue is the money supply growing too rapidly, far exceeding the rate consistent with the Fed's 2% inflation target.

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