by John Rubino
Dollar Collapse
Fed Chair Jerome Powell just spooked the markets by predicting that inflation will jump when the economy reopens – but don’t worry, it’s just temporary. Here’s the real-time CNBC account:
Fed’s Powell says reopening could cause inflation to pick up temporarily
Federal Reserve Chairman Jerome Powell said Thursday that he expects some inflationary pressures in the time ahead but they likely won’t be enough to spur the central bank to hike interest rates.
“We expect that as the economy reopens and hopefully picks up, we will see inflation move up through base effects,” Powell said during a Wall Street Journal conference. “That could create some upward pressure on prices.”