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FOMC Minutes: "Participants expected significant inflation pressures to last for longer than they previously expected"

3 days ago   |   By Calculated Risk

From the Fed: FOMC Minutes, Minutes of the Federal Open Market Committee, November 2-3, 2021. Excerpt on inflation:
Participants generally saw the current elevated level of inflation as largely reflecting factors that were likely to be transitory but judged that inflation pressures could take longer to subside than they had previously assessed. They remarked that the Delta wave had intensified the impediments to supply chains and had helped sustain the high level of goods demand, adding to the upward pressure on prices. Participants also observed that increases in energy prices, stronger...
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