The key features of the recent inflation spike and subsequent moderation may look quite different in hindsight once further revisions have taken place.| Liberty Street Economics
Fields of interest| www.newyorkfed.org
Richard Crump is a financial research advisor in Capital Markets and a member of the Research Group’s Workforce and Recruiting Committee. His research interests are in Econometric Theory and Financial Economics. He holds a Ph.D. in Economics and an M.A. in Statistics from the University of California at Berkeley, along with a B.S. in Economics from MIT. Prior to graduate school he worked as an Associate in the US Economic Research Group and the Global Markets Research Group at Goldman Sachs.| www.newyorkfed.org
Elevated inflation continues to be a top-of-mind preoccupation for households, businesses, and policymakers. Why has the post-pandemic inflation proved so persistent? In a Liberty Street Economics post early in 2022, we introduced a measure designed to dissect the buildup of the inflationary pressures that emerged in mid-2021 and to understand where the sources of its persistence are. This measure, that we labeled Multivariate Core Trend (MCT) inflation analyzes whether inflation is short-liv...| Liberty Street Economics
