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by silvertomars
Fed survey shows Fed is correct…
- A New York Fed survey showed that respondents in July expected inflation to run at a 6.2% pace over the next year and a 3.2% rate for the next three years.
- That marks a big drop-off from the respective 6.8% and 3.6% results from the June survey.
- Expectations for food increases fell at the fastest rate in survey history and the second-fastest for gasoline prices.
Mohamed El-Erian warns the Fed will cause ‘collateral damage’ with its sluggish response to high inflation
- Top economist Mohamed El-Erian has warned that the Federal Reserve is undermining its credibility.
- He believes that the Fed’s sluggish response to high inflation could cause ‘collateral damage’.
- “The Fed has been so late in responding… its forward guidance right now is almost meaningless,” El-Erian said.
Since we printed $9T between stimulus and the Federal Reserve’s balance sheet, CPI is up 15.6%. #Inflation pic.twitter.com/od3zgdbqxs
— John Tuld (@BradHuston) August 8, 2022
Fed isn’t tightening even close to the rate it announced
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