Team TransitoryInflation has moved higher across many countries amid a global reopening, supply bottlenecks, a worldwide energy crunch, higher oil prices, and surging commodity prices. However, a number of central bankers maintain that the current episode of higher inflation is transitory in nature. BSP Governor Ben Diokno recently stated that he is part of Team Transitory. Powell, Lagarde, Yellen: “Inflation is transitory”Fed Chair Jay Powell, European Central Bank (ECB) President Christine Lagarde, and Treasury Secretary Janet Yellen are outspoken members of Team Transitory. She also cautioned against overreacting to “transitory supply shocks that have no bearing on the medium term.”Meanwhile, Yellen said, “Supply bottlenecks have developed that have caused inflation.

Source: Philippine Star October 24, 2021 17:52 UTC