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MNI INTERVIEW:US Inflation Likely At Turning Point-SF Fed Econ

(MNI) WASHINGTON

San Francisco Fed economist says alternative signals of rents show better picture of inflation.

The U.S. economy may be shifting into an environment where sky-high inflation is finally poised to turn lower, led by softening core goods prices, San Francisco Fed economist Adam Shapiro told MNI.

"There's a good probability based on my read that we're at a turning point right now in terms of where the inflation numbers are going and where the economy is headed. We're not seeing it at all in the labor market but we know from past experience that the labor market can just turn on a dime," he said in an interview.

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The U.S. economy may be shifting into an environment where sky-high inflation is finally poised to turn lower, led by softening core goods prices, San Francisco Fed economist Adam Shapiro told MNI.

"There's a good probability based on my read that we're at a turning point right now in terms of where the inflation numbers are going and where the economy is headed. We're not seeing it at all in the labor market but we know from past experience that the labor market can just turn on a dime," he said in an interview.

Keep reading...Show less