About this work
Exceptionally long delivery times and large price increases in the United States pointed to strong demand as well as supply constraints in October 2021. Robin Brooks, Jonathan Fortun and Jonathan Pingle connect this pattern to unusually large fiscal support. They interpret the disruption as evidence of overheating and retain a 2022 core inflation forecast above the Federal Reserve’s projection at the time.
Abstract
Exceptionally long delivery times and large price increases in the United States pointed to strong demand as well as supply constraints in October 2021. Robin Brooks, Jonathan Fortun and Jonathan Pingle connect this pattern to unusually large fiscal support. They interpret the disruption as evidence of overheating and retain a 2022 core inflation forecast above the Federal Reserve’s projection at the time.
Cite this work
Robin Brooks, Jonathan Fortun, Jonathan Pingle (2021). Global Macro Views: Supply Disruptions signal US Overheating. Institute of International Finance.