High Inflation: Causes, Consequences and Policy Responses

The Pew Research Center reports that the U.S. public now views inflation as the top problem facing the country, by a wide margin. It's not hard to see why. After decades of low and stable inflation, the U.S. economy is witnessing a rate of price increase unseen since the 1970s and 80s. Why is inflation so high? Who does it hurt most? And what are the prospects for it coming down? Karen Dynan of Harvard University joins EconoFact Chats to discuss some of these questions. Karen is a Professor of Practice in the Department of Economics at Harvard University. She previously served as Assistant Secretary for Economic Policy at the U.S. Department of the Treasury.