{"id":1799021,"date":"2023-01-08T10:04:43","date_gmt":"2023-01-08T15:04:43","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1799021"},"modified":"2023-01-08T10:04:52","modified_gmt":"2023-01-08T15:04:52","slug":"bank-of-america-chief-economist-predicts-itll-take-2-3-years-to-reach-inflation-target","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bank-of-america-chief-economist-predicts-itll-take-2-3-years-to-reach-inflation-target\/","title":{"rendered":"Bank This is America Chief Economist Predicts It\u2019ll Take 2-3 Years To Reach Inflation Target"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbank-of-america-chief-economist-predicts-itll-take-2-3-years-to-reach-inflation-target%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1799021&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2023\/01\/Gapen-16-Thumbnail-640x335-1.jpg\" class=\"ff-og-image-inserted\" alt=\"image\"   style=\"display:none\"><\/div>\n<p>During Interview with CBS News On Friday, Bank This is America Chief Economist Michael Gapen It was stated that it \u201cwill probably take two years, if not three years to get inflation back down to the Fed\u2019s desired 2% level.\u201d<\/p>\n<p>Gapen said, \u201cI think the numbers tell us that the labor market is still quite hot. The unemployment rate number that you mentioned is the lowest we\u2019ve seen since 1968. So, it\u2019s about a five-decade low. 223,000 jobs added in the month of December. That pace has come down, but that\u2019s a robust number in any normal expansion. So, I think job-seekers right now are probably still meeting with a lot of success and I think labor demand remains exceptionally strong.\u201d<\/p>\n<p class=\"a8d-pre\">He added, \u201c225,000 jobs or so per month is about twice as much job growth as I think the Fed would like to see.\u201d<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Host Catherine Herridge Then, ask: \u201cThe Federal Reserve chair wants to see inflation at 2%. How long will that take to get there and what will it take to get there?\u201d<\/p>\n<p>Gapen respOnded, \u201cMost of us in the kind of the economics forecasting world think that that\u2019s probably a 2-3 year path, that we\u2019re probably past peak inflation right now, in terms of the year-on-year rates of inflation. Those should start coming down more clearly over the course of 2023, but it will probably take two years, if not three years to get inflation back down to the Fed\u2019s desired 2% level.\u201d<\/p>\n<p class=\"a8d-pre\"><em>Follow <\/em><em>Ian\u00a0Hanchett on Twitter\u00a0<a class=\"x5l\" href=\"https:\/\/twitter.com\/IanHanchett\" target=\"_blank\" rel=\"noopener external\">@IanHanchett<\/a><\/em><\/p>\n<figure id=\"D-ROS-B2\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>During Interview with CBS News On Friday, Bank This is America Chief Economist Michael Gapen It was stated that it \u201cwill probably take two years, if not three years to get inflation back down to the Fed\u2019s desired 2% level.\u201d Gapen said, \u201cI think the numbers tell us that the labor market is still quite &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1799024,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[7917,5374,5373,5458,5772,13919,5708,13918,5713,5064,3819,4650],"class_list":["post-1799021","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-2-3","tag-america","tag-bank","tag-bongino","tag-chief","tag-economist","tag-inflation","tag-itll","tag-predicts","tag-reach","tag-report","tag-target"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1799021","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1799021"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1799021\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1799024"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1799021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1799021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1799021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}