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During an interview with Bloomberg on Thursday, White House National Economic Council Deputy Director Daniel Hornung stated that “our progress on inflation does continue,” but “we’ve expected some seasonality in January and February. We didn’t expect the progress to continue on a straight line.”
Hornung said, “I won’t comment on monetary policy and the Federal Reserve. I think what I can say, if you take a step back, our progress on inflation does continue, down from a peak of 9% to the 3% range. Always, I think, we’ve expected some seasonality in January and February. We didn’t expect the progress to continue on a straight line.
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