Ramamurti Says Rising Oil and Rates Risk Stagflation

Bharat Ramamurti, Former Deputy Director of the National Economic Council, says President Donald Trump’s proposed $5,000 dividend checks would be “unequivocally inflationary” and could force the Federal Reserve to raise interest rates further. Ramamurti says that continued rate hikes could push unemployment higher and that, if oil prices keep rising at the same time, the US risks ending up with stagflation alongside a weakening labor market. He speaks with Kailey Leinz and Joe Mathieu on Bloomberg’s "Balance of Power." (Source: Bloomberg)