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Every claim below was made in this piece, quoted word for word and numbered in the order the piece makes them, so you can read it there rather than take our word for it. The sentence above each quote is our reading of the claim, not their wording. Each quote was checked against a stored copy of the page at build time; where the two differ, the quote is the fact.
Their wordsShocks like these raise prices for a time, not forever, so raising rates against them risks unnecessary pain, cutting demand to fight inflation that would fade on its own.
Our reading
A rise in energy prices alone is not sufficient reason for a central bank to raise interest rates.
Their wordsAn increase in energy prices, on its own, is not a good reason for the Fed to raise interest rates.
Their wordsAI may be disinflationary over five or ten years, but over the year ahead- the horizon that matters most for monetary policy-the effects are likely inflationary.
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