A central banker on the bizarre economy sounds like Spider-Man in the multiverse, saying he needs a few months 'to see where reality is'
There are seemingly infinite paths forward, and policymakers are struggling to time their actions, with pressure most intense at the Federal Reserve. The central bank is tasked with keeping inflation in check, and it signaled in November it would soon start reining in its pandemic-era aid. Pulling back support too slowly could solidify inflation at dangerously high levels, but moving too quickly could harm the still-recovering economy.
"It's helpful to have some time to see where reality is in this economy," Barkin told Yahoo Finance's Brian Cheung in anThe remarks hark to fresh humility in the Fed's ranks. The central bank has long expected pandemic-era inflation to be"transitory," meaning it will eventually die down. Yet the Delta wave and supply-chain tangle has left Americans' massive demand crashing into limited supply.
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