In an interview with Fox Business Network on Friday, San Francisco Federal Reserve Chairman Mary Daly said she predicts inflation will fall to about 2.5% by the end of 2023, and that almost half of the hyperinflation we see today is due to excess demand. , half due to supply chain problems due to disruptions due to the coronavirus in Asia and the war in Ukraine.
Daley said, [relevant remarks begin around 2:50] “[O]Only 50% of the hyperinflation we see is actually attributable to demand, excessive demand. Others are related to supply chains and are caused not only by the ongoing disruptions due to COVID, especially in Asia, but also by the war in Ukraine.
He later added: “My deadlines are such that you will start to see them decrease this year. Have to be. You should see how it goes here. We knew we had to do more. And then I see it drop to 2.5 at the end of 2023, something around that level, and then it’s moving towards our target. But actually, I hope this year brings some relief for American families and businesses. ”
Source: Breitbart
