'Once again, the Federal Reserve has underestimated inflation for basically the eighth quarter in a row. They've been surprised on what's happened to inflation, and because they're surprised on what's happening with inflation and the strength of the economy, they're gonna be surprised by what they have to do to interest rates.'
- Summers (
Source, July 9, 2023)
'“We are getting into a period where we have to recognise that inflation is taking too long to get down to target — that is my first uncomfortable truth — and that means that we risk inflation getting entrenched,” Gopinath said.'
-
Source, June 27, 2023
Context[Thomas Hoenig] has a Dire Warning About Where We’re Headed - '..Household Expense Data .. for 80 Years'(Global Stagflation)(QE Was a Colossal Policy Mistake) - '..wage earners have to get a 14.8 per cent wage increase just to hold even with this kind of inflation..'(Global Stagflation) - '..inflation tends toward a cycle of unpredictability and destabilizing volatility that can extend for years and even decades.'