Money printing not helping the intended people much

The Fed and other central banks have misjudged the global economy. The global economy is not accelerating as the other economies were expecting. It’s badly decelerating. In many countries, we’re already in recession.

QE 

I don’t believe that money printing and artificial low interest rates have actually helped much except for asset prices. But the concentration of assets is very limited. It’s not among the broad public. It’s among wealthy people like you, me and the financial people you just interviewed at the Milken Institute.

Rising prices for consumers symptom of QE ?

If you look at rentals in London where you live or in New York or in other cities in the U.S., they have of course been going up much more than the CPI [consumer price index] would suggest. Even the day before yesterday, Donald Trump was interviewed... he said Obamacare is a disaster because the premiums have gone up close to 50 % for some people.

We have to define what inflation is. Inflation is basically the increase in the supply of money and credit. There are symptoms. You can have wage inflation. You can have commodity inflation.