Business
Is the Fed fighting the last inflation war? – The Australian Financial Review
The move to an outcomes-based framework for monetary policy at a time of intensifying inflation pressures increases the probability of a policy mistake.
Financial markets too were beginning to display signs of anxiety about the Feds stance. Prior to the Wednesday CPI release, market-based five-year inflation expectations in the US were approaching 2.8 per cent their highest since 2008.
But central bankers appeared unmoved. US Federal Reserve chairman Jerome Powell continues to say any inflation will be transitory and he borders on dismissive of concerns regarding clear financial market imbalances. His comments have for the most part been supported…
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