The problem with what is commonly thought of as inflation is that consumer prices move up and down for many different reasons and, at any one time, there will be prices rising somewhere and falling elsewhere. So, what prices should be checked by the compilers of the statistics? The answer, inevitably, contains much subjectivity because … Continue reading What comes next?
Powell's approach to inflation has been described as "fuzzy" compared to his predecessors. Maybe it's because of his background in law. Asked at the FOMC press conference what the Fed means by "moderate," Powell said, with perhaps a hint of frustration, "It means not large. It means not very high above 2%. It means moderate. … Continue reading Powell and inflation