A global soft landing could help reduce inflation in the US, according to research from the Federal Reserve Bank of San Francisco.
The paper, published on October 15, says that during normal times domestic Phillips curve factors are the primary drivers of US inflation. However, it adds that international factors can occasionally have a major impact.
The authors – River Bell, Òscar Jordà, Fernanda Nechio, Aditi Poduri and Stephanie Stewart – say that since 2021 international inflation has had a
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