USA Inflation
USA Inflation
"At every point this year the median [Federal Reserve Board] Member predicted that inflation was about to fall to about or even below a 2% annual rate for the remainder of 2021." Thread continues, with another relevant tweet being:
In other words, the FOMC's version of "transitory" has been more like mean reversion in the price level. So not something like 5% inflation gradually slowing to 2% inflation but 5% inflation rapidly changing to 1.5% inflation. So far that has not happened.
— Jason Furman (@jasonfurman) October 18, 2021
"In other words, the [Federal Reserve]'s version of "transitory" has been more like mean reversion in the price level. So not something like 5% inflation gradually slowing to 2% inflation but 5% inflation rapidly changing to 1.5% inflation. So far that has not happened."
At every point this year the median FOMC member predicted that inflation was about to fall to about or even below a 2% annual rate for the remainder of 2021. pic.twitter.com/8PdrYksBCU
— Jason Furman (@jasonfurman) October 18, 2021