Renowned author Robert Kiyosaki is concerned about remarks made recently by Federal Reserve Chairman Jerome Powell on inflation. Powell’s admission that hitting a 2% inflation target would be difficult to achieve points to a change in strategy from earlier targets. Powell did, however, shift slightly to 2.5% in February, emphasizing the uncertain path to price stability.
In his predictions about the future of the economy, Kiyosaki notes that it will have an impact on American families as well as the stability of global finance. Additionally, he attributes the sharp decline in the value of the dollar’s purchasing power since the Federal Reserve’s establishment in 1913 mostly to fiat currencies.
The US has almost $34 trillion in national debt. To protect against growing inflation, Kiyosaki advises investing in gold, silver, and Bitcoin. As Kiyosaki does not believe that saving is the only way to create wealth, his recommendation aligns with his skepticism of traditional financial systems.
