Powell: Fed Hears Inflation Concerns 'Through a Loudspeaker'

The transcript discusses the significant increase in average selling prices by small businesses in June, marking the highest rise since 1981. It emphasizes the hope that this trend is temporary and highlights the Federal Reserve's awareness of the situation through its extensive network. The importance of monitoring expectations is stressed, with a focus on reacting to any troubling changes that persist over time.

What percentage of small businesses raised their average selling prices in June?

• 55%

• 47%

• 60%

• 30%

Since when has the current increase in selling prices been the highest?

• 1990

• 2000

• 1975

• 1981

How does the speaker describe their network through the reserve banks?

• Limited and outdated

• Great and constantly updated

• Unreliable and sporadic

• Non-existent

What is the speaker's stance on the current state of expectations?

• They are stable but need monitoring

• They are ignored

• They are problematic

• They are not monitored

What would cause concern for the speaker regarding expectations?

• A slight increase over a short period

• A significant and persistent rise

• No change in expectations

• A decrease in expectations