'Out of Control' Government Spending Could Spark Inflation Crisis

Deutsche Bank's consensus-bucking warning that continuing high inflation could lead to economic peril may not have been enough to spook the Federal Reserve into action, but it did get the attention of economist Stephen Moore.

Moore, a veteran of premiere conservative think tanks and an adviser to former President Donald Trump who helped write the administration's 2017 tax overhaul, said he prays the Fed's prediction of temporary inflation before a return to normalcy is accurate. But Moore said mixed signals about current inflation is worrying.