Inflation is elevated, largely reflecting factors that are expected to — Inflation

"You know whats worse than high inflation and low unemployment? Its high inflation and a recession with millions of people out of work. I hope youll reconsider that, before you drive this economy off a cliff."

"It is our increase in the cost of capital that causes the inflation cycle. We do not labor or manage, and yet we receive the profits. Through our money manipulation, the capital that we supply industry costs us nothing. Through our national bank, the Federal Reserve, we extend book credit which we create from nothing to all local banks who are member banks. They in turn extend book credit to industry. Thus, we do more than God, for all of our wealth is created from nothing. You look shocked! Dont be! Its true, we actually do more than God. With this supposed capital we bring industry, management and labor into our debt, which debt only increases and is never liquidated. ... We are the necessary element since we expend nothing. Management can create its own capital and keep the cream - the profits. Its business would grow and profits increase."

"If government will not instill discipline, markets will. The dollar will collapse into worthlessness."

"These steps will enhance our productivity — raising wages without raising prices. That won’t increase inflation. It will take the pressure off of inflation, give a boost to our workforce, which leads to lower prices in the years ahead. So, if your primary concern right now is inflation, you should be even more enthusiastic about this plan. And as we promote — as we promote fair competition in our economy through the executive order I mentioned, it will drive down prices even further."

"High rates of inflation create a tax on capital that makes much corporate investment unwise — at least if measured by the criterion of a positive real investment return to owners. This “hurdle rate” — the return on equity that must be achieved by a corporation in order to produce any real return for its individual owners — has increased dramatically in recent years. The average tax-paying investor is now running up a down escalator whose pace has accelerated to the point where his upward progress is nil."

"But while Republicans insist they will be better stewards of the economy, few economists on either end of the ideological spectrum expect the party’s proposals to meaningfully reduce inflation in the short term. Instead, many say some of what Republicans are proposing — including tax cuts for high earners and businesses — could actually make price pressures worse by pumping more money into the economy. “It is unlikely that any of the policies proposed by Republicans would meaningfully reduce inflation in 2023, when rapidly rising prices will still be a major problem for the economy and for consumers,” said Michael R. Strain, an economist at the conservative American Enterprise Institute."