Twitter CEO Jack Dorsey Issues Dire Warning About Economy As Inflation Soars Under Biden

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Leftist Twitter CEO Jack Dorsey warned late on Friday that “hyperinflation” would change life as people know it, it’s happening now, and it’s going to hit the U.S.

“Hyperinflation is going to change everything. It’s happening,” Dorsey wrote on Twitter, later adding, “It will happen in the U.S. soon, and so the world.”

“Hyperinflation is a term to describe rapid, excessive, and out-of-control general price increases in an economy,” Investopedia explained. “While inflation is a measure of the pace of rising prices for goods and services, hyperinflation is rapidly rising inflation, typically measuring more than 50% per month.”

CNBC reported:

The tweet comes with consumer price inflation running near a 30-year high in the U.S. and growing concern that the problem could be worse that policymakers have anticipated.

On Friday, Federal Reserve Chairman Jerome Powell acknowledged that inflation pressures “are likely to last longer than previously expected,” noting that they could run “well into next year.” The central bank leader added that he expects the Fed soon to begin pulling back on the extraordinary measures it has provided to help the economy that critics say have stoked the inflation run.

A report from Bloomberg News last month said that one of the top concerns that clients of UBS Group AG have is “whether central banks’ massive stimulus could trigger hyperinflation.”

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