The Fed Could Take 10 Years to Get Inflation Under Control, Says Almonty Industries CEO.

24 Mar 2022, 08:00

The Fed Could Take 10 Years to Get Inflation Under Control, Says Almonty Industries CEO The CEO of Almonty Industries has warned that it could take the Federal Reserve 10 years to get inflation under control if they do not act now and stop spending money. “And they need to raise rates. That’s the only tool that works,” he said. Federal Reserve Could Take a Decade to Get Inflation Under ControlAlmonty Industries CEO Lewis Black discussed the state of the U.S. economy and inflation in an interview with Kitco News this week.Almonty is a global mining company focused on tungsten mining and exploration. Black has over 15 years of experience in the tungsten mining industry. He recently explained that one key use for tungsten is in the batteries used in electric vehicles. “Tungsten is used in anodes and cathodes in batteries, helping vehicles charge quicker,” he said.While noting that the Russia-Ukraine war is directly contributing to the recent inflation surge, the executive pointed out that many commodities were already near record highs before Russia began its invasion of Ukraine.“We already had disruptions, and governments worldwide have printed so much money. When you inflict on the economy so much money, it creates inflation,” Black explained, adding: The fashion right now is to blame Putin. And some commodities have rallied on the back of the invasion. But some were already at all-time highs or near those highs before that.