Is Inflation "Transitory"?
Transitory is a word that has been forced into everyday usage by its continued utterance by US Federal Bank Chair, Jerome Powell. (The Merriam-Webster dictionary definition of the word is: “of brief duration i.e. temporary or tending to pass away. not persistent.”) So is he right in calling current inflation levels ‘transitory’?
The short answer is yes – in part!
Current inflation levels are largely made up...