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We expect inflation to “break” in the “second or third quarter” of 2022

In Monday’s edition of NPR’s “All Things Considered,” White House Council of Economic Advisers Chairperson Cecilia Rouse said the White House expects inflation to “break”. ‘next year. So maybe in the second quarter of next year, second or third quarter.

Rouse said, [relevant remarks begin around 4:20] “[W]We really expect to see inflation – take the plunge – next year. So possibly in the second quarter of next year, second or third quarter. As these supply chains loosen, people start to feel more comfortable because the pandemic is receding and they are using more services rather than buying goods, we would expect that normalization of our economy helps moderate inflation. “

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