by Wolf Richter
Wolf Street
“It seems unlikely that yields are going to go back to being as low as they were before the pandemic”: Yellen.
By now everyone sort of knows that inflation has been re-heating in a very disconcerting way for months, and that the inflation saga is far from over. There are all kinds of discussions about the future of inflation in the US, and it seems there is a rough common denominator forming: The future of inflation in the US is more inflation – more than there was before the pandemic, when the “core PCE price index,” the Fed’s favored measure, rarely went above the 2% line, and then only briefly and by a hair.