Oxford's Magnus Sees Slow Creep of U.S. Inflation

The transcript discusses the need for a change in inflation regimes, highlighting the slow rise in the Fed's preferred inflation measure and potential risks from global trade disruptions. It compares international inflation trends and examines central banks' strategies in response to inflation. The discussion also touches on the FOMC's shift from data dependency to a more strategic approach.

What is the Fed's preferred measure of inflation?

• Gross Domestic Product Deflator

• Producer Price Index

• Personal Consumption Deflator

• Consumer Price Index

Which factor is mentioned as influencing recent inflation trends in Germany, Italy, and the United States?

• Interest rates

• Oil prices

• Government spending

• Currency exchange rates

What is a potential risk for central bankers if they misjudge inflation trends?

• Loss of public trust

• Incalculable economic consequences

• Increased unemployment

• Higher interest rates

What shift in approach is the FOMC considering according to Janet Yellen's testimony?

• From domestic focus to international focus

• From inflation targeting to interest rate targeting

• From data dependency to strategic planning

• From strategic planning to data dependency

What has guided the Fed's approach for a long time before the potential shift?

• Inflation targeting

• Strategic planning

• Data dependency

• Interest rate targeting