Bowman: High Inflation and the Outlook for Monetary Policy

From federalreserve.gov

Before we get to our conversation on community banking, I would like to briefly discuss my outlook for the U.S. economy and my view of appropriate monetary policy.1 As I see it, the main challenge for monetary policy now is to bring inflation down without harming the ongoing economic expansion. Inflation is much too high. Last year I noted that inflationary pressures associated with strong demand and constrained supply could take longer to subside than many expected. Since then, those problems have persisted and inflation has broadened, reaching the highest rate that Americans have faced in forty years. High ... (full story)