Fed Has 'Broken the Back' of Inflation: JPM's Michele

The video discusses the Federal Reserve's stance on interest rates, highlighting their hawkish approach to inflation. It examines economic indicators, such as oil prices and personal consumption expenditures, suggesting that inflation may have been curbed. The impact of the banking crisis on inflation is considered, noting its typically disinflationary effects. Business surveys indicate a decrease in price plans, and a shift in Fed officials' views on inflation risks is observed.

What is the Fed's current approach to interest rates according to the transcript?

• They are planning to cut rates soon.

• They are undecided about rate changes.

• They are pausing rate changes.

• They are increasing rates aggressively.

What historical figure is mentioned in relation to avoiding premature victory declarations on inflation?

• Arthur Burns

• Alan Greenspan

• Paul Volcker

• Ben Bernanke

How do banking crises typically affect inflation?

• They cause hyperinflation.

• They accelerate inflation.

• They have no impact on inflation.

• They are disinflationary or deflationary.

What trend is observed in small business price plans for the next three months?

• They are at their highest since 2021.

• They are unchanged since 2021.

• They are increasing rapidly.

• They are at their lowest since the first quarter of 2021.

How did the perception of inflation risks among Fed officials change from December to March?

• It increased from 11 to 19 out of 19.

• It remained the same at 17 out of 19.

• It decreased from 17 to 11 out of 19.

• It increased from 11 to 17 out of 19.