MacroVoices #387 Jeff Snider: On Deflation and Soft Landing
Macro Voices
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The Transitory After the Pandemic Inflation
Jay Powell: I think there's a bit of a misunderstanding here. The consumer price index has performed this clear inflection that we see time and again in the historical supply shock cases. It roars out of the gate the first several months and then it continues to accelerate and go really painful for quite a long period of time. And it isn't until almost two and a half years later that it starts to really, really slow down and shift. So what he was saying is exactly what you would hear from Jay Powell today.
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