Randal Quarles on Inflation, Balance Sheet Reduction, Financial Stability, and the Future of the Fed
Macro Musings with David Beckworth
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Inflation
When i arrived at the fet, inflation was unusually low. Because of the computership shortage, driven by well documented and expected supply change ruptions. New cars were difficult to produce because they're basically rolling computers these days. Use car prices over the previous two months had gone up by 25%. And that drove the aggregate annualized inflation number to print at five %. But it was just one thing that was being driven, obviously, by a sort of droven evand supply.
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