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don't invest unless you're prepared to lose all the money you invest this is a high-risk

investment and you should not expect to be protected if something goes wrong This is a

CBS I on the world. I'm John Bachelor with Professor Richard Epstein of the Hoover Institution writing and ideas, a report card of the Biden administration's

first year in office.

We turn to the inflation story that has been with us all year long.

Heretofore, Mr. Powell at the Federal Reserve now

re-nominated by the President to be Chairman another few years. Mr Powell has

said it was transitory or temporary inflation.

No longer, the Federal Reserve has now moved aggressively to say this inflation is a problem.

We're going to end the bond buying. The taper will end with the end of it and then we will look to

raising rates in 2022, perhaps three times. However, this story is global.

The Bank of England has moved quickly to raise rates without much announcement.

Other banks are looking at doing some adjustment to inflation like the European Central

Bank. Richard, the president has

said in various formats that the inflation is a product of the pandemic and the

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