It means that the increases in prices will happen, so there will be inflation but that the process of inflation will stop."
BARGAININGAt the Fed's annual Jackson Hole conference in Wyoming, Powell laid out systematically what he'd be watching to see if inflation was becoming more persistent.
History also teaches, however, that central banks cannot take for granted that inflation due to transitory factors will fade."
The Fed kicked its rate increases into overdrive and Powell explained with this June 15, 2022 comment: "Contrary to expectations, inflation again surprised to the upside.
Some indicators of inflation expectations have risen, and (inflation) projections this year have moved up notably.
Persons:
Jerome Powell's, Don Lee, Powell, We're, we're, Howard Schneider, Paul Simao
Organizations:
Federal Reserve, Reuters Graphics Reuters, Los Angeles Times, Jackson, Fed, Thomson
Locations:
U.S, Wyoming