Energy prices Quotes
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A further jump in energy prices or a more pronounced reaction to those increases in prices that have already occurred could test the strength of the expansion.
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High energy prices are burdening household budgets and raising production costs, and continued increases would at some point restrain economic growth.
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Inflation is up, driven by energy prices. Underlying core rates remain low, which is encouraging.
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The inflation objective is explicitly a long-term or medium term objective. It focuses on, for example, core inflation to avoid getting involved in short-term fluctuations in energy prices and the like.
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These inflation effects should fade even if energy prices remain elevated, so long as monetary policy keeps inflation expectations well-anchored.
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The high energy prices are certainly burdening consumer budgets, they are burdening cost structures of firms and certainly continued increases in energy prices are a risk for economic growth going forward.
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Unfortunately there's nothing, really, that can be done that's going to affect energy prices or gasoline prices in the very short run.