Rising oil prices, like other unfavorable price shocks, can also feed through and raise underlying core inflation, ... So there is also a risk on the inflation front, and the risk is higher now than it was a year ago.
More Quotes from Michael Moskow:
History will show Alan Greenspan did an outstanding job. He's just steeped in economics. He knows the data better than probably just about anyone else I know.Michael Moskow
It is appropriate to maintain an accommodative monetary policy stance, in order to provide some insurance against unwelcome disinflation,
Michael Moskow
It will take appropriate monetary policy to keep inflation and inflation expectations well contained. For me, at this time, such policy likely entails further removal of policy accommodation,
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I don't think anyone can answer whether the Fed is going to have to tighten beyond neutral, ... You have to be looking at the economy going forward and that changes as additional data comes in.
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I'm concerned about core inflation running at the upper end of the range that I feel is consistent with price stability.
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Even without an increase in inflation expectations, it will take appropriate monetary policy to keep inflation well contained,
Michael Moskow
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