Billionaire CEO John Catsimatidis said over the next 90 days inflation could be reduced if Washington gets a grip on oil costs and stabilize food prices
Recession doesn’t have to happen. Unless there’s another war or another incident, oil prices will start to tweak down a little bit. The fact is that inflation will start tweaking down the other way. Because with, food prices will continue to go up for the next 30, 60, 90 days because they always have a 30, 60, 90 day layover period in between. But if oil prices go down and food prices stabilize, inflation goes away.
What I said to Jay Powell in my last Fox interview, I said don’t raise interest rates to the degree which it will destroy the rest of the country. I said, Jay Powell, be careful. We’ll destroy the real estate industry. It’s easy to say. Well, the way you solve the problem is reduce the oil prices, and if North America has 100 years' worth of oil, if we reduce the oil prices and the oil prices come down, the food prices come down, inflation goes away.
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