Jim Rogers: ‘US government’s inflation data is a sham’

Thursday, December 9, 2010
By Paul Martin

Leading investor Jim Rogers has attacked the US government’s inflation data as a “sham” that is causing the central bank to massively understate price pressures.

By Andrew Trotman
Telegraph.co.uk

Mr Rogers, who shot to fame after co-founding Quantum Fund with George Soros, argued the Federal Reserve uses information that relies too heavily on housing prices.

“I expect interest rates in the US to go much, much, much higher over the next few years,” he said, adding that he is betting against US Treasuries.

The core personal consumption expenditure index, which strips out food and energy costs, is the Fed’s preferred measure of inflation. This was flat in October for the second straight month.

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