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Chair Powell On Persistence Of Underlying Inflation Measures

FED

Q: How persistent do you see underlying measures of inflation?

  • A: As I mentioned in opening statement, inflation started in very narrow pandemic-related areas but now broadly into the economy, services sector. Particularly travel, shelter. Cleveland Fed measures are going up, many measures.
  • It's part of why we did what we did today; appropriate to bring rates to restrictive levels.
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Q: How persistent do you see underlying measures of inflation?

  • A: As I mentioned in opening statement, inflation started in very narrow pandemic-related areas but now broadly into the economy, services sector. Particularly travel, shelter. Cleveland Fed measures are going up, many measures.
  • It's part of why we did what we did today; appropriate to bring rates to restrictive levels.