When prices started to take off in multiple countries around the world about two years ago, the word most often associated with inflation was “transitory.” Today, the word is “persistence.”That was uttered repeatedly at the 10th annual conference of the European Central Bank this week in Sintra, Portugal.
“It’s been surprising that inflation has been this persistent,” Jerome H. Powell, the chair of the Federal Reserve, said.
“We have to be as persistent as inflation is persistent,” Christine Lagarde, the president of the European Central Bank, said.
Persons:
“ It’s, ” Jerome H, Powell, “, ” Christine Lagarde
Organizations:
European Central Bank, Federal Reserve
Locations:
Sintra , Portugal