'Inflation-exchange rate' debate between economist Devrim Akyıl and Ebru Baki: 'I am not a student'

A debate over the exchange rate took place between Ebru Baki and economist Devrim Akyıl on the Para Politika program on Sözcü TV.

Stating that Treasury and Finance Minister Mehmet Şimşek's remarks that inflation "will fall due to the base effect" will not lead to a decline until they have an impact on citizen behavior, Akyıl said that citizens must be convinced that there will be no further price increases.

"THERE IS NO SUCH THING AS EXCHANGE RATE PRESSURE"

Upon Ebru Baki mentioning the dollar exchange rate, Akyıl said, "You get happy when it drops by 5 or 10 kuruş, but these don't mean anything."

To Baki's remark, "Of course I get happy, at least the exchange rate pressure decreases," Akyıl responded by saying, "There is no such thing as exchange rate pressure." 

"I AM NOT A STUDENT"

Upon Baki's question, "Why did inflation emerge?" Akyıl said, "It emerged because you disrupted behaviors. It emerged because you started without adjusting interest rates and without providing the correct exchange rate."

To Baki's remark, "You caused the exchange rate to jump, after all," Akyıl said, "You didn't cause the exchange rate to explode, Ebru; I explain this to you in every broadcast, but let me explain it again."

Ebru Baki replied, "I am not a student, but you cannot say there is no exchange rate pressure." 

"IT IS USEFUL FOR PERCEPTION AND MANIPULATION"

Akyıl responded, "As long as you don't understand, it is difficult for the viewer to understand. You say in every broadcast that meat and milk prices are rising, and you look at all their prices; the increase in the exchange rate has remained lower than these since 2018, even half as much. This means there is no one-to-one correlation with the exchange rate increase. Absolutely none. You have fallen under the influence of the AKP's perception manipulation to date. I am saying that the entire pro-government media has been processing this for 5 years. I am telling you to get out from under this influence. This perception manipulation, 'we are holding the exchange rate, there is no crisis. If we let the exchange rate explode, inflation will explode. We are not letting the exchange rate explode, so inflation is not emerging'—where is it not emerging?"

To Baki, who used the expression, "The exchange rate has reached 33 liras, should it be 90 liras?" Akyıl replied with the words, "The exchange rate is increasing far below the rising products, and this is useful for you for perception manipulation."

Journalist Deniz Zeyrek commented on the dialogue in question, saying, "Like Nasreddin Hodja, you are both right. You are both right. The reason you are both right at the same time is the strangeness of the environment."

News Source: 12punto