- No material evidence of sectoral mismatches in the labor market, which has remained very flexible
- Not convinced that we should lean heavily and constantly against integrating an inflationary mindset
- We must carefully assess the risks on both sides
- The impact of rising energy prices will not be felt evenly, these factors could amplify the blow to aggregate demand
- Companies and workers do not have the same bargaining power as in the 1970s
- In all likelihood, the invasion of Ukraine will intensify and prolong the surge in inflation and tighten pressure on household incomes
- Don’t think we’re seeing the emergence of a consistently higher inflation psychology
- Monetary policy can do little to offset external price pressures
These are dovish comments.
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