Eric Rosengren is president and CEO of the Federal Reserve Bank of Boston.
He sees inflation as transitory:
- while there are elevated prices for many goods and services that will be more moderate in 2022
More:
- a robust recovery is underway
- vaccination rates have occurred more rapidly than anticipated
- economy is getting close to some estimates of full employment
- many sectors of the economy are still suffering
- there are shortages of goods and services because economy opened up so quickly
- some costs are repricing back to normal
- the Federal Reserve does not expect used car price to continue to rise at the same pace
- sees inflation slightly higher than 2% in 2022
Headlines via Reuters
