“We’re outcome based, this is one data point,” Mr. Clarida cautioned. and is also expected to move above the central bank’s goal. Reducing the support would probably cause stock prices to sink. On Wednesday, yields on government bonds rose in the minutes after the consumer price data was released and stocks declined for the third consecutive day. Central bankers have been clear that they would react if, contrary to their expectations, signs of a persistent price takeoff emerged.

Source: New York Times May 12, 2021 09:05 UTC