Fearing Inflation In 2021

Published July 23, 2021 at 7:07 AM EDT

Taylor Williams, left, and other shoppers what in line to enter a Traders Joes store, Monday, April 6, 2020, in Woodmere Village, Ohio. Only 25 customers are allowed in the store at one time.

This episode originally aired on July 15, 2021.

Prices for goods and services spiked 5.4 percent in June from the previous year, marking the highest rate of inflation since 2008 and stoking fears of a reboot of 1970s runaway inflation.

Federal Reserve chairman Jerome Powell met virtually with members of the House on July 14th and reiterated his position that the inflation that we are seeing will wane as the economy reopens.

Today on All Sides with Ann Fisher: What is inflation and why do we fear it?

Guest:s

Richard Sylla, Professor Emeritus of economics at NYU Stern
Bill LaFayette, economist and Owner of Regionomics L.L.C.
Chris Farrell, senior economics contributor at Marketplace

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