The Impact of Globalization on Inflation

Jared Bernstein: We are now in a world where inflation is much higher than central banks would like it to be. He says the demographic shifts that are affecting developed economies have been going on for a long time. The Fed has pivoted from quantitative easing to quantitative tightening, reducing the money supply and raising longer-term interest rates at least above where they would naturally be," he said. "We expect that they're going to work against inflation"