BofA's Moynihan: Inflation a Concern as Wage Growth Picks Up

The transcript discusses the Federal Reserve's projections on inflation, particularly focusing on the PC deflator and core inflation rates. It explores the debate on whether current inflation trends are temporary or transitory, with a focus on wage growth and employment rates. The challenges faced by small businesses, such as labor shortages and supply chain issues, are highlighted. Additionally, the impact of stimulus dollars on consumer spending and the potential for inflation is examined.

What is the Federal Reserve's projection for the core inflation rate?

• 4.0%

• 2.5%

• 3.4%

• 3.0%

What is considered a 'sticky' factor in inflation?

• Wage growth

• Short-term supply issues

• Seasonal demand changes

• Temporary price hikes

What was the primary concern for small businesses last fall?

• Supply chain disruptions

• Pandemic

• Inflation

• Labor shortages

What percentage of stimulus dollars do customers still have in their accounts?

• 80-85%

• 65-70%

• 50-55%

• 30-35%

How much has consumer spending grown year to date compared to 2019?

• 15%

• 10%

• 25%

• 20%