Biden’s America: Expert Estimates US Inflation at 12% (VIDEO)

Appearing Tuesday on CNBC’s Squawk Box, hedge fund manager Kyle Bass estimated that the United States’ inflation rate is approximately 12 percent. . .

"We have 34% more money in the US system than we did 14 months ago. Of course we're going to have inflation and it's going to be significant. Investors and savers and retirees need to think about how to maintain the purchasing power of their capital," says @Jkylebass pic.twitter.com/Z03etUWBH6

— Squawk Box (@SquawkCNBC) June 15, 2021

KYLE BASS: When you look at the inflation numbers, these are chain-weighted inflation numbers. These are numbers that are designed to be artificially be low. If you look at a non-chain-weighted index of inflation, we think it’s running about 12 percent, and with short term interest rates still at zero, that means people who have money in the bank, in their savings, are losing 5 to 12 percent of their purchasing power annually. We have 34 percent more money in the US system than we did 14 months ago. Of course we’re going to have inflation and it’s going to be significant.

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