Why inflation can be a self-fulfilling prophecy
Federal Reserve officials have some new inflation data to chew on before they head into a two-day meeting on interest rates tomorrow. The Federal Reserve Bank of New York released a consumer survey today that says consumers are expecting inflation above the Fed’s target of 2% over the next several years. On the show today: How inflation can be a self-fulfilling prophecy and why that makes it hard to set policy around it. Also on the program: Why restaurants say they need more financial aid, more companies are investing in cyber insurance, and Canada’s agricultural worker program is under scrutiny amid the pandemic.
