BlackRock's Miller Sees Positive Supply Shocks in Economy

The transcript discusses the Federal Reserve's introspection on its inflation measurement and forecasting methods. It highlights the role of positive supply shocks in the US economy, which are lowering prices and increasing household purchasing power. The discussion also touches on the potential risks of policy mistakes if the Fed misinterprets the causes of low inflation, particularly the impact of technological innovation. The transcript emphasizes the importance of understanding these dynamics to avoid financial imbalances.

What are the implications of the Fed's soul searching regarding inflation measurement?

How do positive supply shocks affect inflation and purchasing power for US households?

What is the significance of the core inflation rate and its components?

In what ways could the Fed's uncertainty about inflation lead to policy mistakes?

Discuss the potential risks of addressing technological impacts on inflation through monetary policy.