Hatzius: Inflation Is Difficult to Measure at This Moment

The transcript discusses the current disinflationary period and the potential for deflation, examining how the Federal Reserve might respond. It highlights the challenges in measuring inflation due to economic disruptions, such as the inability to price certain services. The outlook for inflation post-crisis is considered, with expectations of continued slack in the labor market and economy, which may keep inflation below target. The transcript also touches on the possibility of financial market bubbles due to economic interventions, though the current focus remains on stabilization and recovery.

What are the current trends in inflation as discussed in the text?

How does the speaker view the impact of the current economic crisis on inflation measurement?

What is the speaker's perspective on the normalization of the economy post-crisis?

What factors are expected to weigh on inflation in the future according to the speaker?

What concerns does the speaker express regarding the potential for financial market instability?