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September 01, 2020 1:25pm
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Are we in for a 1970's style inflation revival?

When Fed Chair Jerome Powell spoke at a moderated Q&A last Tuesday, he confirmed the higher-for-longer message of virtually all other Fed speakers: “The recent data have clearly not given us greater confidence and instead indicate that it is likely to take longer than expected to achieve that confidence [to reduce rates]”.
As a consequence of the shift to a higher-for-longer narrative, different versions of this ominous CPI chart have been making the rounds. Could we be in for a 1970s-style inflation revival? 


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