Biden Top Economic Adviser on a 40-Year High Inflation: It Will Come Down Significantly in 2022

EXCERPT:

BERNSTEIN: "I expect inflation to come down significantly in 2022. Now, more to the point, that’s not just my expectation, that’s the expectation of every forecast I’ve looked at and it’s very important. Basically, what the forecast tells you is that the job market should stay tight and get even tighter supporting wage growth while inflation decelerates, while it slows. So virtually every forecast has inflation growing about half as fast this year as it did last year. Now half as fast still might take you above the Fed’s target but if that -- if that occurs, that’s going to be a real sign that some of our interventions, some market interventions are helping to ease these price pressures."