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Jerome Powell’s Dilemma: What if the Drivers of Inflation Are Here to Stay?
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Central bankers worry that the recent surge in inflation may represent not a temporary phenomenon but a transition to a new, lasting reality.
To counter the impact of a decline in global commerce and persistent shortages of labor, commodities and energy, central bankers might lift interest rates higher and for longer than in recent decades—which could result in weaker economic growth, higher unemployment and more frequent recessions.
Read more on wsj.comAbout this in other media
Watch Fed Chair Jerome Powell speak live in a Q&A at the Cato Institute cnbc.com /1 year ago
Jerome Powell’s Inflation-Fighting Pledge Could Tee Up Another 0.75-Point Interest Rate Rise by Fed wsj.com /1 year ago
The Case for a Soft Landing: High Inflation Could End Without Recession wsj.com /1 year ago
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