Why Inflation is Not Transitory

One of my favorite national economists is Brian Wesbury, chief economist for First Trust Portfolios, and in this video he explains that the Fed has increased our money supply by 30% since February 2020 and that prices must and will increase by 30% over time, whether it be 2 years, 4 years or as long as 6 years. Thus, he does not believe the Fed’s often repeated statements that inflation will be “transitory” or temporary.
So, if Brian is correct, mortgage rates will start increasing and may increase by one or two percentage points. Back in the fall of 2018 mortgage rates hit 5% and our real estate market really cooled off and I believe that would happen again. So, be prepared financially.