Joseph Lavorgna: The Federal Reserve will lose credibility if it fails to control inflation

According to Golden Ten Data, Joseph Lavorgna, Chief US Economist at Sumitomo Mitsui Banking Corporation Japan, stated that if the inflation rate does not slow down, Federal Reserve policymakers will lose their hard-earned credibility. He pointed out that in the past 70 years, the core inflation rate has fallen by 0.9% year-on-year or more only six times, and each slowdown in inflation was due to the Federal Reserve tightening its policy.