Sobre este trabajo
Los cuellos de botella ya afectaban los precios al productor, pero su transmisión a la inflación del consumidor seguía avanzando en mayo de 2021. Robin Brooks, Jonathan Fortun y Jonathan Pingle esperaban nuevos aumentos del IPC y PCE subyacentes por efectos rezagados. Entonces sostenían que la Reserva Federal debía tolerar ese repunte pese a un choque de oferta mayor y más persistente.
Resumen
Supply bottlenecks had reached producer prices, but their transmission to consumer inflation was still unfolding in May 2021. Robin Brooks, Jonathan Fortun and Jonathan Pingle expected further increases in core CPI and PCE as delayed effects emerged. They argued at the time that the Federal Reserve should accommodate this inflation bump despite a larger and more persistent supply shock.
Citar este trabajo
Robin Brooks, Jonathan Fortun, Jonathan Pingle (2021). Global Macro Views: Supply Disruptions, Inflation and the Fed. Institute of International Finance.