“The risk is that because of the multiplicity of shocks you start to transition to a higher inflation regime. Our job is literally to prevent that from happening, and we will prevent that from happening. We will not allow a transition from a low-inflation environment into a high-inflation environment.” — Federal Reserve Chair Jerome Powell

Editorial: If energy is a large input cost for almost everything world-wide including food, how does Powell plan to either lower the input costs (energy, labor …) and/or reduce demand for food?