Inflation has lasted longer and accelerated to levels the Fed did not expect. January data revealed a 7.5% inflation rate, up from 7% in December—and significantly exceeding the Fed’s 2% target.
With increased volatility in the stock and bond markets, many are taking a look at their portfolios. Steve Wyett, BOK Financial® chief investment strategist, weighs in on what the persistent increase means and what moves the Fed may be considering.
"Inflation is not going back to 2% or less anytime soon," Wyett said. "The normal we're going towards is not the normal we left behind. And our current reality isn't the new normal, either."
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