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Twitter CEO Jack Dorsey is sounding the alarm about hyperinflation in the U.S.

“Hyperinflation is going to change everything. It’s happening,” Dorsey wrote on Twitter Friday, later adding, “It will happen in the U.S. soon, and so the world.”

Friday’s concession by Federal Reserve Chairman Jerome Powell that increased inflation could run “well into next year.”

In a follow-up tweet, Dorsey noted that an inflation rate of 16% was possible in the U.S. and globally.

Former Fed Chairman and current U.S. Treasury Secretary Janet Yellen, however, said she expects inflation to fall to acceptable levels in the second half of 2022.

“On a 12-month basis, the inflation rate will remain high into next year because of what’s already happened. But I expect improvement … by the middle to end of next year, second half of next year,” she told CNN.

Hyperinflation refers to price increases of 50% per month or more.

The current annual rate of US inflation is running at 5.4%.

Dorsey’s warning comes at a time when the US government is saddled with a nearly $29 trillion debt and deficit spending is projected to increase dramatically under Biden.

Mock n’ Rob discuss inflation in the context of the Biden administration’s Build Back Better plan in the clip below.