『Inflation’s stubborn ceiling: Why the Fed’s 2% target remains elusive』のカバーアート

Inflation’s stubborn ceiling: Why the Fed’s 2% target remains elusive

Inflation’s stubborn ceiling: Why the Fed’s 2% target remains elusive

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概要

One month into 2026, U.S. inflation continues to run above 2% for a fifth consecutive year—and the reasons go well beyond a single cause.

While some recent data points—including easing in core services and vehicle prices—might suggest relief is coming, a deeper look reveals these improvements are unlikely to persist as a trend.

In this episode of the 10-Minute Take, RBC Economics' Claire Fan and Carrie Freestone explore what's really driving inflation and how to cut through the noise:

  1. How a tight labor market, robust consumer demand, tariffs flowing through supply chains, and a lagging housing inflation measure are all keeping inflation elevated.
  2. Critical differences between CPI and PCE - why the Fed's preferred measure often tells a different story than headline CPI readings.
  3. Key data challenges and what to monitor: the Producer Price Index for tariff signals, business surveys for pricing intent, and wage dynamics as inflation's floor.

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