The Rabbit-Duck Question: What Caused the Recent Inflation Surge?

Felipe Schwartzman

Richmond Fed Economic Brief, 2025, vol. 25, issue 20

Abstract: Inflation has multiple causes that operate at the same time and reinforce each other. Those causes are difficult to disentangle based on simple data patterns. Rather than focusing on a single ultimate cause of inflation, policy is best informed by understanding the relevant trade-offs implied by different components.

Keywords: Economic Growth; Inflation; Monetary Policy (search for similar items in EconPapers)
Date: 2025
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