JPMorgan (JPM) Poll Confirms Inflation Fears Growing

Economists are warning that rising inflation is a growing threat to the economy and poses new challenges to Federal Reserve policymakers. A survey conducted by JPMorgan (NYSE:JPM) found that concerns are growing that core inflation rates, or inflation stripped of volatile food and energy prices, are on the rise despite the Fed's claims to the contrary.

The JPMorgan poll of financial professionals finds that in the U.S., core inflation will be running 1.8 percent a year from now, up from 1.4 percent from a previous survey conducted in November and up from February’s 1.1 percent forecast, according to The Wall Street Journal. Respondents pegged overall inflation at 2.9 percent.

"The report notes the recent jump in oil prices and the longer-running increase in commodity prices may be skewing responses. But the report notes core inflation rates have already been rising in the U.S. and the U.K.," the newspaper reports.

"Sixty-one percent of those surveyed think inflation will be running above the Fed’s target, generally thought to be around 2 percent. Of those respondents, 12 percent thought inflation would be 'significantly' above target."




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