Inflation Numbers Are Eye-Popping, Says BofA's Meyer

The transcript discusses the recent rise in inflation, highlighting the broad-based increase in consumer prices and the role of supply chain issues and wage pressures. It examines the labor market's constraints and the impact on inflation. The discussion includes potential policy responses from the government and the Federal Reserve, emphasizing the importance of managing inflation expectations and the timing of monetary policy actions.

What factors contributed to the broad-based increase in core CPI?

What unique aspects of the pandemic contributed to price resets?

How did the labor market's constraints affect inflation?

What are the implications of rising wages in relation to consumer prices?

What measures did President Biden propose to address cost issues?

How can the Fed respond if inflation expectations rise significantly?

What role does forward guidance play in monetary policy?