Inflation ‘Bubbling Up,’ But Stays Low in 2021, Economist Lee Says

The video discusses the current state of inflation in the US, noting that while inflation has been low, it is beginning to rise slightly. The speaker explains that the economy is in a second wave, which is less severe than the first. Supply and labor shortages are contributing to inflationary pressures. However, the increase in inflation and interest rates is expected to be modest.

What are the reasons mentioned for the supply shortages affecting inflation?

In what way does the speaker compare inflation trends to interest rates?