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Inflation is killing us; cryptocurrency alone cannot beat it

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Cryptocurrency 19 minutes ago (Nov 05, 2022 06:20PM ET)

Inflation is killing us; cryptocurrency alone cannot beat it Inflation is killing us; cryptocurrency alone cannot beat it

Much like a pandemic, inflation has spread throughout the world, clouding the future with dark uncertainty.

Disagreement over how to best manage soaring prices in the United Kingdom nearly caused its economy to collapse and subsequently led to the resignation of Prime Minister Liz Truss after just 44 days in office. Currently, at least 10 emerging economies are hyperinflationary, with more expected to follow. And the Federal Open Market Committee (FOMC), the part of the U.S. Federal Reserve responsible for keeping prices stable, just announced higher interest rate hikes in the midst of a return to positive gross domestic product — signaling continuing inflation troubles ahead.

Consumer Price Index (CPI) 2002-2022. Source: Bureau of Labor Statistics

James Song is a behavioral economist and software developer specializing in sustainable digital currencies. He completed his undergraduate career at Harvard University and received a master’s degree in neuroscience from University College London.

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