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But we saved everything 🙂.
Diane Swonk highlights that manufacturing firms are reporting in recent surveys that they are front running future price increases.
She suggests that this type of hoarding behavior can create a reinforcing cycle of inflation, which the Federal Reserve is tasked to prevent.
Swonk previously noted that U.S. inflation as measured by the PCE index remained high in April. She has also pointed out that the recent rise in job openings to 7.6 million was mainly driven by professional business services, according to government figures. These data points add context to concerns over inflationary pressures.