- Powell admits that stabilizing inflation at 2% is difficult, citing its volatile nature.
- Kiyosaki recommends gold, silver and Bitcoin as protection against inflation and fiat devaluation.
In a recent discussion, Federal Reserve Chairman Jerome Powell addressed the current state of inflation in the United States. Despite a slight increase of 2.5% in February, Powell highlighted the challenges in stabilizing inflation at the desired 2% level, citing its volatile nature.
Out of concern following Powell’s recent comments on inflation, Robert Kiyosakiauthor of ‘Rich Dad Poor Dad’, added:
“Fed Chairman Powell finally told the truth. Last week he finally admitted that inflation is winning. The Fed can no longer promise 2% inflation or that inflation is “transitory.” Once again he finally stopped lying. Congratulations.”
Powell’s defensive posture
Rather, Powell is speaking at a business conference Stanford Universitydiscussed the Federal Reserve’s approach to potential rate cuts in response to inflation.
He stressed that while progress has been made in tackling price increases, these efforts have slowed in recent months.
He noticed,
“In terms of inflation, it is too early to say whether the recent readings represent more than just an increase.”
Amid growing concerns about inflation, Kiyosaki continues to support investments in ‘real’ assets such as gold, silver and Bitcoin [BTC]citing their effectiveness as hedges against inflation and fiat currency devaluation.
“I am a hard advocate for real money and I only save real gold, silver and Bitcoin. I recommend the same to you and your family.”
He added a word of caution, adding:
“Please wake up and take control of your money and your information.”
These comments reflect widespread skepticism about traditional financial systems and regulatory policies, and coincide with concerns about the US’s $34 trillion national debt.