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The Fed has not made a compelling case for taming inflation by crushing demand, says Judy Shelton

Judy Shelton, senior fellow at the Independent Institute, joins CNBC's 'Squawk Box' to weigh in on the Federal Reserve's efforts to reduce high inflation by hiking interest rates. "The Fed hasn't made a compelling case for why crushing demand is the best way to address inflation," Shelton tells CNBC.

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