Sustained Inflation: Is a Monetary Policy Response Needed?

In November 2021, after being a guest on Josh Dukelow’s Fresh Take program, I posted two related pieces:  one on whether inflation was temporary or not and a second on the role of monetary policy.  It’s time for an update, especially since the inflation rate has risen significantly since November 2021 (see the below chart) … More Sustained Inflation: Is a Monetary Policy Response Needed?