Economics
Fed Unites Left and Right in Warning It’s Behind Inflation Curve
- Summers, Furman, Taylor, Hubbard see elevated price pressures
- Consumer price inflation forecast to come in at 7% in December
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The Federal Reserve has managed to do something that’s rarely seen in the U.S. these days: Get members of the Democratic and Republican parties to agree.
At this year’s annual meeting of the American Economic Association, prominent economists from both sides of the political spectrum argued that the Fed is behind the curve in the battle to contain an outburst of inflation in an economy still beset by a pandemic.