U.S. inflation showed some cooling off in July after posting large gains in prior months. Consumer prices rose at their slowest monthly pace since February, providing some relief to those in the “transitory” camp, who hold that this bout of inflation isn’t a long-term phenomenon. But, inflation fears still linger. The year-on-year increase in consumer prices…
Prominent Economist Warns Inflation Not Transitory, Could Be ‘Shock’ to Financial System
More U.S. economists are starting to publicly warn of rising inflation. A renowned economist Mohamed El-Erian said he worries “a great deal” that inflation will not be transitory, arguing that there is too much “on-the-ground evidence” it will stay high. In a recent op-ed in the Financial Times, El-Erian, who is one of the most widely followed economists,…
As Prices Rise, Fed Dismisses Inflation Worries
WASHINGTON–Although inflationary pressures keep building in the U.S. economy, economists believe the Federal Reserve officials are unlikely to tighten monetary policy before seeing significant improvement in labor market recovery. From gas to groceries, Americans have started to see price increases in recent weeks as the economy reopens. Used car and truck prices, for example, surged…
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