Former Bank of England Governor Mark Carney said that he thought there was a risk higher inflation would persist even beyond the Fed’s willingness to tolerate price gains to make up for this past undershooting.
Move over Larry Summers. Former Bank of England Governor Mark Carney indicated Monday he is in the camp of economists worried about an outbreak of higher inflation.
In his remarks, Carney said that he thought there was a risk higher inflation would persist even beyond the Fed’s willingness to tolerate price gains to make up for this past undershooting. Summers, the former U.S. Treasury Secretary, has been speaking out about wanting the Fed to start reversing its loose monetary policy or they’ll risk inviting stubborn inflation into the economy. His comments have become central to Republican talking points that the Biden White House’s infrastructure plan is fiscally reckless.
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