“The federal reserve and the Biden administration have been trying to prepare the country for temporary, modest inflation this year, around 2.3% or so, as the economy recovers. But some are worried we might see more significant and durable rises in prices.

“Joseph Gagnon, senior fellow at the Peterson Institute for International Economics, is somewhere in between. ‘Marketplace Morning Report’ host Sabri Ben-Achour spoke with Gagnon, also a former economist at the Federal Reserve, about the prevailing opinions about how economic inflation will rise and whether that will make a noticeable dent in people’s wallets…”

Listen to the full interview here: