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Delta variant cools inflation fears – for now

TOKYO – To get a sense of where inflation is heading, you could peruse mountains of data, charts and investment bank reports. Or you could just examine central bankers’ travel schedules.

A resurgence of Covid-19 cases just forced the US Federal Reserve to cancel its annual in-person Jackson Hole, Wyoming retreat. Each year, monetary bigwigs from Washington, Frankfurt, Tokyo, Sydney and everywhere else gather in the mountains to mull the big economic quandaries of the moment.

This year, of course, the debate is over whether inflation is about to explode and cream markets as economies reopen from pandemic lockdowns.

Yet the cancellation of conference rooms in Wyoming – it’s now a Zoom meetup – suggests a non-panic attack.

On inflation, at least.