Janet Yellen Contradicts Biden On Inflation, Hedge Fund Manager Skeptical About Trump's Radical Tax Plan And More: This Week In Economics

As the week winds down, let’s take a look back at some of the major stories that shaped the financial world. From warnings about overpriced stocks to debates about inflation and radical tax plans, it was an eventful few days. Here are the highlights:

Peter Schiff Sounds the Alarm on Overpriced Stocks

Renowned economist and financial commentator, Peter Schiff, has expressed concerns about the current valuation of U.S. stocks, particularly the S&P 500 and other major indices. In a recent podcast, Schiff advised investors to be selective in their investments and hire professionals if they can’t do their own research. Read the full article here.

Paul Krugman Reacts to May CPI Data

Nobel Prize-winning economist Paul Krugman expressed optimism about the economy's future following the release of the U.S. Bureau of Labor Statistics’ cooler-than-expected Consumer Price Index (CPI) data. Krugman, along with many economists, prefers core inflation data excluding shelter and energy. Read the full article here.

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Kyle Bass Skeptical About Trump’s Radical Tax Plan

Founder of Hayman Capital Management, Kyle Bass, expressed doubt over former President Donald Trump’s proposal to replace income tax with import tariffs. Bass argues that the gap between the total volume of imports in the U.S. and the revenue from taxes is too large for the plan to be feasible. Read the full article here.

Janet Yellen Contradicts Biden on Inflation

U.S. Treasury Secretary Janet Yellen contradicted President Joe Biden's stance on inflation, attributing it to supply and demand rather than corporate greed. Yellen believes that the inflation burst after the pandemic was due to supply constraints and stresses on supply chains. Read the full article here.

Harry Dent Predicts ‘Crash Of A Lifetime’

Financial author and economist Harry Dent warned of an impending crash that might surpass the severity of the Great Recession. Dent remains steadfast in his December prediction of the "crash of a lifetime." He highlighted the uniqueness of the current bubble, comparing it to the natural bubble from 1925 to 1929. Read the full article here.

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Photo by Sharon McCutcheon on Unsplash

This story was generated using Benzinga Neuro and edited by Navdeep Yadav.