Billionaire Warns Fed Will Keep Rates High as Oil Price Spikes Threaten New Inflation Surge

Billionaire Chamath Palihapitiya believes the Fed will maintain higher interest rates amid inflation concerns related to rising oil prices and new conflicts.

Palihapitiya cites data showing the U.S. Strategic Petroleum Reserve is at dangerously low levels, limiting the government's ability to reduce oil prices.

With oil likely to spike from the Israel-Hamas and Russia-Ukraine conflicts, plus OPEC supply cuts, inflation could rise again.

This inflation spike may prevent the Fed from cutting interest rates anytime soon, despite bond market pressure to start a cutting cycle.

Palihapitiya argues many factors are loosely connected now, with implications across everything else.