Read the runes – Inflation is showing some staying power

BloombergOpinion/John Authers

Repost from 10-8-202

photgraph of scattered viking runes“Persistent price pressures would be a severe test for the Fed, just as shifting politics raise questions over its future leadership.”

USAGOLD note: Reading the runes, it seems that deep within the data, as presented by Authers, economists are finding good reasons to be concerned about persistent (or cyclical) inflation. Suppose it is not Powell heading up the Fed in 2022. In that case, it is likely to be Lael Brainard, a much more dovish practitioner of the monetary arts and someone much closer in philosophy to the progressive wing of the Democratic Party.

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