Inflation: Here Today, Gone Tomorrow?

Sharp upside inflation surprises that have pushed US inflation to 30+-year highs have fueled concerns that “temporary” pandemic-related inflationary pressures could prove persistent, raising the risk of a damaging wage-price spiral that could force the Fed into a costly tightening cycle. Where inflation goes from here—and what that means for the economy, monetary policy, interest rates and assets—is Top of Mind.