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Powell’s Econ-101 Lesson Presents Best-Case Inflation Scenario

  • Fed chair explains theory why price pressures could fade fast
  • Vertical supply curve would be easy up, easy down for economy
Jerome Powell

Jerome Powell

Photographer: Eric Lee/Bloomberg

Federal Reserve Chair Jerome Powell is dusting off the supply and demand curves every student learns about in economics to explain what the US central bank is doing to bring inflation under control. 

The trouble is, his story only presents a best-case scenario.