Business

We see inflation all over the developing world


The testimony continues for Yellen / Powell

ON inflation Yellen says:

  • We see inflation all over the developing world
  • we have seen a shift in spending from services to goods
  • also sees reduced labor supply due to health issues / childcare disruptions
  • over time, infrastructure inflation will reduce inflationary pressures

Powell:

  • if you removed inflation from durable goods, it would be a much lower level if inflation
  • we expect inflationary pressures to ease in the second half of 2022, but there is a huge amount of certainty surrounding the forecast
  • The conditions for reaching 2% inflation and achieving inflation above 2% for a certain time are fulfilled

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