Inflation expectations remain more or less 3/6  BIS central bankers' speeches  flat, after declining from the end of 2019 through the first half of 2020, as confirmed in the right panel of the chart.
In the case of the dollar shock considered previously, these models suggest that the all-in effects of the stronger dollar on GDP are only about one-half to two-thirds as large as implied by the trade model that abstracts from a monetary policy response – still substantial, to be sure, but much less significant for the economy than if monetary policy failed to play an active role.