Federal Reserve Schmid: Our inflation problem isn't just about energy; we're uneasy about assuming that the surge in inflation will be temporary; the job market seems roughly balanced. Even if inflation is driven by supply shocks, the Federal Reserve should not ignore it.

Federal Reserve Schmid: Our inflation problem isn't just about energy; we're uneasy about assuming that the surge in inflation will be temporary; the job market seems roughly balanced. Even if inflation is driven by supply shocks, the Federal Reserve should not ignore it.