Fed’s Powell says high inflation temporary, will ‘wane’(2021)

apnews.com

2 points·aww_dang··3 comments

And here it is, two years later, falling. Not as fast as the most optimistic predictions in the article. Not as slow as it would be if it were the fault of administration policies, which have not changed in the past two years.

Given that there has been a war putting a serious crimp in worldwide supply chains, this seems like a prediction that was reasonably correct at the time.

I'm not sure its fair to say inflation is falling. Across Europe at least, I keep hearing about rising inflation in food prices---and that affects the most poor among us the most.

https://news.ycombinator.com/item?id=35290460

> I’m not sure its fair to say inflation is falling.

The actual measures are falling.

> Across Europe at least, I keep hearing about rising inflation in food prices

The subject is US inflation, and inflation can fall overall while one or more sectors rises.

> —and that affects the most poor among us the most.

Even if that overwhelmed the effect on that group of the sectors that are falling, it would still be fair to say inflation is falling. It might, in that case, be worth noting that “inflation specific to the spending patterns of the poorest” is not falling. Discernable subgroups will often have inflation experiences different than the aggregate, but that doesn’t invalidate the aggregate.

Reply on news.ycombinator.com