As mainstream media pundits like the Bloomberg economics editor Peter Coy tell Americans to “tune out the hyperinflation hype,” fund managers from a recent Bank of America survey who collectively manage $630 billion, believe inflation is the biggest risk to markets right now. Instead of the former concern over Covid-19, the current number one risk to markets is inflation, as federal stimulus spending has invoked worry among investors.
While Inflation Concerns Grow, Mainstream Media Publications Tell Americans Not to Worry
Just recently, Jerome Powell, the Federal Reserve Chairman, showed little concern about rising inflation and never really said when the Fed’s monetary easing policies would end. After Powell did an interview at a Wall Street Journal Jobs Summit and showed no signs of worry, 10-year U.S. bond note markets saw a massive sell-off.
Following the market carnage on March 4, 2021, a number of mainstream media publications simply wrote off people who are concerned about inflation.
Specifically, that day, Bloomberg economics editor Peter Coy wrote an editorial called “Tune Out the Hyperinflation Hype. It’s Just Meme Economics.” The editorial passes off the concerns as “hype,” and coupled the proposition with the overused term “conspiracy theories.” Coy even noted that fear of inflation helps the leading crypto asset bitcoin (BTC).
“Conspiracy theories have an insidious way of seeping into the real world,” Coy’s editorial explains. “Fear of inflation—if not outright hyperinflation—helps explain the meteoric rise of Bitcoin,” the Bloomberg economics editor’s report adds.

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