Market expert Arthur Laffer Jr. joined 'Mornings with Maria' to discuss high prices and U.S. energy dependence, which has lead to inflationary pressure.
Monday, Laffer Tengler Investments' Arthur Laffer Jr. said that inflation will get "higher" and will be here for "longer," arguing America's energy dependence has led to inflationary pressure.and have been long energy since early last year with the hope of raising prices because we have to go hat in hand asking for increases. The irony is not is that two years ago we were energy independent in the United States.
And here we are asking even Venezuela, an enemy country for increases to help us out and help out Europe with the oil embargo. So OPECs just doing what's in its best interest. and elsewhere. We think that inflation's going to be here higher and longer than we would have thought. But, this is pretty ugly. We have CPI coming out on Friday, so we'll see what it is. But this is definitely putting a lot of pressure on the economy. I think these prices are here for a while.
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