Scaramucci Criticizes Fed for Fueling Inflation and Hurting Middle Class

Scaramucci says Fed was wrong to call inflation transitory, but understands they are doing their best.

He worries the Fed is operating on lagging data that doesn't reflect the weakening economy.

Scaramucci believes the Fed's actions are making it hard for poor and middle class to get ahead.

He argues the U.S. has made mistakes like letting China into WTO and going off gold standard.

Scaramucci predicts soft recession, Fed rate cuts, and eventual dollar devaluation and inflation.