Stockton University Professor of Finance, Dr Michael Busler, recently joined Dr Randy Tobler's Saturday morning show, and declared the end for the need of stimulus packages.
"Clearly, at this point, we need no more stimulus," says Busler. "Take a look at how the economy has grown. The recession really only lasted, while it was very deep it was short lived, it only lasted really from mid-March to the end of April last year. Then the economy started coming back. We grew at a 33% rate in the third quarter, slowed down a little bit in the fourth quarter, but still over a 4% rate. And the first quarter of this year, just announced, GDP grew at a 6.4% rate."
Busler says once the economy opens-up more, and people spend the stimulus money they have received, and saved, he's concerned about inflation. "in the first quarter of this year, the inflation rate was almost 4%. That's twice what the Federal Reserve's goal is."
The Federal Reserve says the inflation rate is only temporary, and due to supply chain disruptions.
"I don't agree with them," says Busler. "I think we're looking at a fairly severe inflation problem and it may come sooner rather than later."
