Hassett Says 3.7% September Inflation Needs More Work Despite Falling Egg and Beef Prices
Updated
Updated · Bloomberg · Oct 19
Hassett Says 3.7% September Inflation Needs More Work Despite Falling Egg and Beef Prices
3 articles · Updated · Bloomberg · Oct 19
Summary
September CPI pushed Kevin Hassett to say inflation is "back needing some work" after three months that had looked fully under control.
Hassett told CNBC some prices, including beef and eggs, have been falling, but said the broader inflation picture still warrants policy attention.
The renewed concern follows a September CPI report showing annual inflation accelerated to 3.7%, reversing the calmer signal from recent months.
A day earlier, Hassett had still described the U.S. economy as being in a boom, pointing to strong consumer spending even as the Fed watches wage-driven demand.