US cementing higher inflation regime
With most of the Fed’s top brass now focused on the labour market, it appears that many policymakers are not overly concerned about inflation
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WITH the exception of goldbugs, almost everyone seems to have abandoned their inflation worries. The Federal Reserve is easing again, Wall Street stocks and bonds are rising in tandem, and even the bruised US dollar has perked up a bit.
The Fed’s strict 2 per cent inflation target seems to be a thing of the past.
And yet financial markets are chattering about a US economy about to be run “hotter”, an investment super-cycle that could extend for years and supply chain disruptions that could reverberate till 2026 and beyond.
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