NEW YORKâOn Thursday, February 27 at 9:00 AM EST, the Federal Reserve Bank of New York will release a two-part Liberty Street Economics series looking at trends in U.S and global inflation and factors behind them.
The blog posts use an extension of the New York Fed’s Multivariate Core Trend (MCT) Inflation model to understand sectoral inflation patterns in the U.S and globally and the drivers of these trends. The MCT Inflation model, which began regular publication in July 2023, measures inflation’s persistence in the 17 core sectors of the personal consumption expenditures (PCE) price index.
The two blog posts to be released are:
- “Global Trends in U.S. Inflation Dynamics,” which explores the common features of sectoral inflation patterns in the U.S. and abroad during the pre-pandemic and post-pandemic periods using an extension of the MCT Inflation model; and
- “Supply and Demand Drivers of Global Inflation Trends,” which discusses the drivers of the identified global inflation trends in the previous blog post in terms of shocks that induce a trade-off for monetary policy, versus those that do not.
