Henry Kaufman on inflation and the US dollar

In Part Three of this three part series, Henry Kaufman, the legendary Wall Street economist known as "Dr Doom" for his pessimistic forecasts on inflation and interest rates in the 1970s and 1980s, says he does not like his nickname but understands that it reflects people's unwillingness to hear a negative view or bad news. He says the US is not in the inflationary period of the 1970s.