During the recent monetary policy tightening cycle, US inflation has proven persistent, with discussions emerging about the effectiveness of monetary policy with respect to previous cycles. This column shows that when looking at a measure of core inflation that is ‘super sensitive’ to monetary policy, the Fed’s interest rate hikes had and still have a clear disinflationary role. On the other hand, the persistence of inflation, especially for core services, seems to have been related to the

Tag-uri: Inflatie