Speaking at the Kansas City Fed’s annual Jackson Hole symposium on Saturday, the president of the Swiss National Bank (SNB), Thomas Jordanwarned of the persistence of inflationary pressures.
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“Structural factors such as the transition to a greener economy, the increase in sovereign debt around the world, the demographic transition and, ultimately, also the fact that globalization seems to have peaked – at least temporarily – could lead to one persistently higher inflationary pressure in the coming years“
“There are signs that inflation is increasingly spreading to goods and services not directly affected by the pandemic or the Ukraine war.“
“The higher prices are moving through faster.”
“Inflation expectations have also moved slightly higher.”
“A decrease in global economic integration could increase the pricing power of companies, which would mean that they could impose price increases more easily.”
Source: Fx Street
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