Are Long-run Inflation Expectations Well Anchored?

Gadi Barlevy, Jonas Fisher and May Tysinger
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May Tysinger: https://www.chicagofed.org/people/t/tysinger-may

Chicago Fed Letter, 2021, issue 458, 7

Abstract: Many observers anticipate that the recent run-up in inflation in the United States will prove to be temporary, and annual inflation will be near the Fed’s target of 2% in 2022 and 2023. An important consideration for policymakers, however, is whether the private sector will similarly read the rise in inflation as temporary. That is, are long-run inflation expectations likely to remain anchored, or might the sharp rise in inflation cause long-run expectations to increase substantially as well?

Keywords: Expectations; speculations; Price Level; Inflation; Deflation (search for similar items in EconPapers)
JEL-codes: D84 E31 (search for similar items in EconPapers)
Date: 2021
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