Powell confirms readiness to act quickly on inflation risks.
01/10/2022
https://www.congress.gov...
We’re beginning to see some effects. We expect to see more.
The effects on inflation could be short lived — reflecting a one-time shift in the price level.
What's tended to happen is when there's turmoil in the Middle East, you may see a spike in energy prices.
Everyone that I know is forecasting a meaningful increase in inflation in coming months from tariffs.