Will inflation subside?
“The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run,” according to an FOMC statement.
Professor of economics and public affairs at Princeton and former vice chairman of the Fed, Alan Blinder, wrote in a recent op-ed for the Wall Street Journal that inflation won’t be here much longer.
“One day, hopefully soon, food and energy prices will level off and the supply chain problems will dissipate,” Binder said.
He added that inflation will fall just as fast and theatrical as it grew.
Experts from Morningstar agree and are predicting higher inflation for the rest of the year but that it will lessen in the coming years as prices are already peaking in most sectors.