Harvard Economist Rogoff: I Worry Biden, Fed Will Overcompensate for Earlier 'Big Mistakes' on Inflation

On Friday's broadcast of CNBC's "Closing Bell," Professor of Economics at Harvard University and former International Monetary Fund Chief Economist Ken Rogoff said that while he thinks the Federal Reserve will ultimately "blink" and not back up its tough talk on inflation, he worries that because both the Biden administration and the Federal Reserve have "made big mistakes" in the past, they'll make a mistake in the other direction and try to bring inflation down too quickly.