Inflation was the topic of discussion at a Brookings Institution symposium on Tuesday, with many economists seemingly reaching a consensus regarding its causes and future prospects. Though they cautioned that short-term factors contributed to a surge in prices, including commodity prices and sectoral shortages, many economists are cautiously optimistic about future inflation prospects. Despite some debate about the reasons behind the surge in inflation, most experts seem to agree that the economy needs to cool off, with a focus on the labor market where things are still overheated. However, there remains the question of whether a cooling-off period will mean a significant rise in unemployment. According to the symposium, immaculate disinflation might be possible, with inflation coming down without a significant rise in unemployment.
