Fed does not need to evaluate ‘last mile’ of inflation differently

Atlanta Fed
The Federal Reserve Bank of Atlanta
Atlantacitizen/Wikimedia

The “last mile” of high inflation does not pose a unique challenge for the US Federal Reserve, according to new research. 

David Rapach, a research economist at the Federal Reserve Bank of Atlanta, believes that viewing the remaining stages of the inflation cycle as exceptionally difficult for the Fed to navigate would be a mistake – and one that could trigger a recession in the US.  

The last mile refers to the final 1% or 2% of excess inflation that the Fed will need to suppress to meet its 2%

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