BofA’s Moynihan Says Inflation Is 'Clearly Not Temporary’

The video discusses the persistence of inflation, shifting from a transitory to a more permanent concern. It highlights the changing expectations of inflation rates and the Federal Reserve's response, including tapering monetary support. The labor market's role, with unemployment rates and wage growth, is examined as a factor in inflationary pressures. Future economic challenges, such as shortages and their impact on inflation, are also considered.

In what ways could shortages impact the economy as per the discussion?

What concerns does the speaker express regarding the permanence of inflation?