Is lower inflation "transitory" too?
The world [i]transitory[/i] is such a warm and fuzzy word. Like when the dentist tells me the pain will be [i]transitory[/i] when he pulls my tooth out.
But should this word also be applied to the lower inflation we have experienced over the past few months? Will food and energy prices start their ascent once again when the cold weather sets in and Europeans need to heat their homes, and the poor Ukranian harvest caused by the war starts to be felt? Will the monetary authorities remain committed to their 2% goal right into the teeth of a global economic panic, or will they blink? Will Jerome fold like a cheap suit?
Janet Yellen seems to have forgotten about the word [i]transitory[/i] too. Perhaps what she primarily cares about is that this [i]transitory[/i] period lasts until the mid-terms.
But should this word also be applied to the lower inflation we have experienced over the past few months? Will food and energy prices start their ascent once again when the cold weather sets in and Europeans need to heat their homes, and the poor Ukranian harvest caused by the war starts to be felt? Will the monetary authorities remain committed to their 2% goal right into the teeth of a global economic panic, or will they blink? Will Jerome fold like a cheap suit?
Janet Yellen seems to have forgotten about the word [i]transitory[/i] too. Perhaps what she primarily cares about is that this [i]transitory[/i] period lasts until the mid-terms.
56-60, F
