Insider Q&A: 経済学者 Joel Naroff on the インフレーション 脅し
WASHINGTON (AP) - インフレーション, a no-show for １０年間s, is suddenly breaking out all over, it seems. And 関心s are growing.
消費者 prices in April jumped by the largest 量 in more than a １０年間, with 殺到するing costs for food, used cars, 航空機による tickets and furniture, の中で other goods and services. The price 増加するs have 誘発するd 恐れるs that the 生き返らせる 経済的な 回復 could 誘発する／引き起こす runaway インフレーション for the first time in a 世代.
The Associated 圧力（をかける） spoke recently with Joel Naroff, 大統領，／社長 and 長，指導者 経済学者 of Naroff 経済的なs LLC. The interview was edited for clarity and length.
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Q: After many years of low インフレーション, are you seeing 調印するs that インフレーション is rising?
A: There is no question that インフレーション 圧力s are building, and they are building 公正に／かなり はっきりと. We have had a 大規模な 介入 in the economy by the U.S. 政府. That has 原因（となる）d a snapback in 需要・要求する at the same time that 全世界の 供給（する） chains are having problems.
This photo 供給するd by Naroff 経済的なs LLC shows Joel Naroff. In a May 2021 interview, Naroff says "There is no question that インフレーション 圧力s are building, and they are building 公正に／かなり はっきりと. We have had a 大規模な 介入 in the economy by the U.S. 政府. That has 原因（となる）d a snapback in 需要・要求する at the same time that 全世界の 供給（する） chains are having problems." (Naroff 経済的なs LLC 経由で AP)
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Q: Chairman Jerome Powell and other Fed 公式の／役人s are arguing that the price 増加するs are transitory and not an 指示，表示する物 that インフレーション will become a problem. What do you think?
A: I think we have a greater 危険 that this will be an 延長するd period of インフレーション rather than a transitory period. The Fed is 推定する／予想するing the 危険 to fade as the 政府 support 勝利，勝つd 負かす／撃墜する. But if 大統領 Joe Biden's 組織／基盤／下部構造 and family programs are passed, the Fed could be in trouble.
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Q: The Fed says it has the 道具s to を取り引きする インフレーション.
A: They can always raise 率s. But they have also created an economy where the 期待s are that the Fed will keep 率s extraordinarily low for an extraordinarily long period.
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Q: The Fed seems to be in a new 時代 where instead of 約束ing to 引き上げ（る） 率s pre-emptively to fight インフレーション, it is willing to wait longer to 押し進める 失業 負かす／撃墜する さらに先に and to let インフレーション run above its 2% 的 for a time.
A: We used to have the 説 that if the Fed waits until it sees the whites of the 注目する，もくろむs of インフレーション, it has waited too long. Now, we have a Fed that is willi ng to be 侵略（する）／超過（する） by インフレーション before it even starts 解雇する／砲火／射撃ing.
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Q: Where are 消費者s most likely to notice higher prices?
A: Prices will be going up everywhere. I think you will see it in restaurants, in amusement parks, in move theaters. They are all going to be raising their prices. The cost of building a new home has gone up so much. It's not just 板材 but everything.
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Q: Are there any 明確な／細部 警告を与えるs you would give to 投資家s?
A: The biggest 問題／発行する I see is, we don´t know what will happen to the economy once the 政府 support to 世帯s and 商売／仕事s stops. 投資家s should be asking that question 権利 now.
