Fed Vice Chair Clarida says another year of inflation like this one would not be 'a policy success' (msn.com)
Though Clarida still subscribes to the broader description of current price pressures as "transitory," he said they are more intense than expected and will be higher this year than the Fed's most recent forecast.
"Realized inflation so far this year represents to me much more than a moderate overshoot of our 2% longer-run goal, and I would certainly not consider a repeat performance a policy success," he said during a virtual conference presented by the Brookings Institution.
No, it’s not transitory. It has definite and obvious causes. Until you address the root causes, inflation is here to stay. Team Biden isn’t doing that.
Welcome to Biden’s America.
#IToldYouSo
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