machines, declare the election corrupt and investigate conspiracy claims. watch. between december 23rd and january 3rd, the president either called me or met with me virtually every day. you also noted that mr. rosen said to mr. trump, quote, doj can t and won t snap its fingers and change the outcome of the election, how did the president respond to that, sir? he responded very quickly and said, essentially, that s not what i m asking you to do, what i m just asking you to do is just say it was corrupt and leave the rest to me and the republican congressmen. just say it was corrupt. we also learned that when top doj officials refused to back his false election claims, trump wanted to install a little known doj environmental attorney and trump loyalist jeffrey clark as the acting attorney general. just hours before yesterday s hearing, federal agents raided clark s home. we ll have much more on the details of that in a moment. let s begin with cnn political correspond
Global Supply Chain Pressures and U S Inflation
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MIL-OSI USA: Brainard, What Can We Learn from the Pandemic and the War about Supply Shocks, Inflation, and Monetary Policy?
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<p><span>Policymakers and researchers have begun reassessing certain features of the economy and monetary policy in light of recent experience. After several decades in which supply was highly elastic and inflation was low and relatively stable, a series of supply shocks associated with the pandemic and Russia s war against Ukraine have contributed to high inflation, in combination with a very rapid recovery in demand. The experience with the pandemic and the war highlights the challenges for monetary policy in responding to a protracted series of adverse supply shocks. In addition, to the extent that the lower elasticity of supply we have seen recently could become more common due to challenges such as demographics, deglobalization, and climate change, it could herald a shift to an environment characterized by more volatile inflation compared with the preceding few decades.</span></p>