IDEAS home Printed from https://ideas.repec.org/p/fip/fedpsp/94942.html
   My bibliography  Save this paper

Inflation: What Caused It and What to Do About It

Author

Listed:
  • Patrick T. Harker

Abstract

Patrick T. Harker, Philadelphia Fed president and CEO, told an audience at the Greater Vineland Chamber of Commerce that he recognizes that “this is a period of tremendous hardship for Americans, particularly those with low or moderate income” due to high inflation. Harker noted that the Federal Reserve has responded by reducing its balance sheet and raising the federal funds rate 300 basis points since the start of 2022. He also said he expects the Fed to continue to raise rates “for a while.” “Inflation will come down, but it will take some time to get to our target,” he said

Suggested Citation

  • Patrick T. Harker, 2020. "Inflation: What Caused It and What to Do About It," Speech 94942, Federal Reserve Bank of Philadelphia.
    • Handle: RePEc:fip:fedpsp:94942
    as

    Download full text from publisher

    File URL: https://www.philadelphiafed.org/-/media/frbp/assets/institutional/speeches/harker/2022/10-20-22-greater-vineland-chamber-of-commerce.pdf
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedpsp:94942. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Beth Paul (email available below). General contact details of provider: https://edirc.repec.org/data/frbphus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.