Fed's Kaplan Says Businesses Have Low Pricing Power

The video discusses the concept of transitory inflation, highlighting the role of technology and globalization in shaping current economic conditions. It explains how traditional business models are being disrupted by technology-enabled models, affecting pricing power and inflation. The discussion also touches on unemployment rates and the challenges businesses face in passing wage pressures onto consumers due to increased competition and consumer choices.

What is Kaplan's definition of transitory inflation?

How does the current unemployment rate relate to inflation pressures according to the text?

What impact does technology have on businesses' pricing power as discussed in the text?

What factors contribute to the muted inflation mentioned in the text?

In what ways are traditional business models being disrupted according to the speaker?