In June, the headline inflation reading came in at 5.4%—the highest level since 2008.
Fed Chairman Jerome Powell says that inflation is well above their 2% target. But he thinks this is a temporary phenomenon.
"The Fed still expects inflation to be transitory, driven up over the short term by logistics bottlenecks and a surge in consumption," says John Chang, senior vice president and director of Research Services at Marcus & Millichap, in a recent video. "The Fed still expects inflation to come back down over the next six months. That said, Chairman Powell left the door open for taking action if inflation proves not to be transitory."
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
