Schiff disputes Waters on housing's role in inflation, blames government spending

Peter Schiff disputes Maxine Waters' claim that housing is the main driver of inflation, instead blaming deficit spending and money printing.

Waters pointed to housing costs rising over 6% annually as accounting for most of the increase in core CPI inflation.

However, Schiff argues that housing simply goes along with overall inflation caused by government policies.

There is strong evidence of broad inflation, with high deficit spending and past quantitative easing by the Federal Reserve.

Regardless of the main driver, Fed Chair Powell acknowledges the challenging situation in the housing market with shortages and affordability issues.