As inflation expectations incorporate the expected future path of monetary policy, and markets have priced in increasing short-term rates in the quarters ahead, the “wait and see” argument would run into inconsistencies. The current low level of inflation expectations is predominantly the successful outcome of the stabilityoriented monetary policy framework itself.
Solutions are more likely to come if each wave of newly minted economists reflects the makeup of the country. And both the country and the profession need the deepest, broadest talent pool possible to keep up with a constantly evolving economy. I believe Delta can be a source of momentum by harnessing its core virtues of sisterhood, scholarship, service, and social action.