Rosengren: Inflation to Rise in '21, Won't Persist Into '22

The video discusses inflation expectations, highlighting temporary factors like supply shocks and deferred consumption that may cause short-term inflation increases. It examines the Fed's new framework, which allows the economy to run hot, and the potential impact of significant fiscal stimulus on labor markets and inflation. The discussion also touches on the debate over labor market slack and its influence on inflation, questioning the validity of the Phillips Curve in the current economic context.

What changes in the Fed's approach to inflation are highlighted in the text?

What concerns are raised about the size of the stimulus and its impact on the economy?

How does the speaker view the relationship between unemployment and inflation in the current economic context?