Cecilia Rose, chair of the White House Council of Economic Advisers, told CNBC’s “Squawk Box” on Tuesday that the question of whether inflation is temporary “is it about the pandemic, not the inflation we depend on.” We really fixed expectations and inflation. ” And “the inflation we are currently experiencing is related to the pandemic,” and “still,” in his view, “we will see inflation fall as supply chains open as we return to our normal economic activity.”
Rose said, “In general, I think the inflation we’re experiencing right now has to do with the pandemic and the fact that we’ve shut down our economy – and we’ve done that, and it’s happened to others around the world. It’s another level. He did everything necessary to help him overcome the pandemic. And looking back is hard, one could be – he was the quarterback on Monday morning. But back then we knew we had to keep our economy going.
“I think the issue of volatility is about the pandemic, not inflation, where we anchor expectations and really bury inflation. I still believe that as supply chains fall, we will see inflation fall as we return to our normal economic activity. In fact, if you look at the kernel, it is managed. President Putin’s invasion of Ukraine is the final breaking point here and is actually causing a surge in energy markets. And we know that energy goes to many other good things in the core. So at the moment we have some problems that cause problems in terms of inflation.
Source: Breitbart
