Remarks for the Panel Discussion “Why Did We Miscast Inflation?”

Abstract: Inflation remains too high, and recent data – including several strong labor market indicators, as well as faster than expected retail sales and producer price inflation – all reinforce my view that we have more work to do, to bring inflation down to the 2 percent target. While optimistic there is a path to restoring price stability without a significant downturn, I am also well aware of the many risks and uncertainties, including the risk of a self-fulfilling loss of business and consumer confidence.

Keywords: inflation; maximum employment; price stability; supply; demand; federal funds rate; labor market; monetary policy;

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Bibliographic Information

Provider: Federal Reserve Bank of Boston

Part of Series: Speech

Publication Date: 2023-02-24