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FinanceFed mistake is behind surging housing, auto prices, Peter Boockvar says

Fed mistake is behind surging housing, auto prices, Peter Boockvar says

Investor Peter Boockvar slammed the Federal Reserve over surging inflation that is driving up the price of important, big-ticket objects.

As Fed coverage makers collect for his or her two-day assembly on rates of interest, Boockvar warned there’s little they’ll do to chill costs.

“Monetary policy mostly and pretty much predominantly influences the demand side of the economy, particularly the interest rate sensitive areas of the economy,” the chief funding officer at Bleakley Advisory Group instructed CNBC’s “Trading Nation” on Tuesday.

His warning extends notably to housing and autos.

“A home is up 20% year to year. If you’re looking to rent an apartment or a house, those prices are rising 18%,” mentioned Boockvar. “Car prices are at record highs partly because of supply, but also cheap money influencing demand.”

The newest financial knowledge out Tuesday confirms inflation is booming. The producer value index, which tracks wholesale costs, jumped to its quickest tempo on document in November.

Boockvar, who went on inflation watch in mid-2020, sees little aid forward.

‘Mistake was not doing it earlier’

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