Bloomberg Surveillance · Wednesday, July 29, 2026
Several speakers emphasized that persistent inflation and a strong labor market provide the Federal Reserve with room to increase interest rates. Dan Swank of KPMG noted that inflation has been around too long and is becoming the norm, making action necessary, especially with a robust labor market.
“We need to do something about this inflation and has been around for too long and created a muscle memory. It's becoming the norm instead of the anomaly.”
“And with the labor market in a stronger position, there's no reason not to do it.”
“For the first time in my tenure, I'm hearing from businesses who say they think we need to take action to curb inflation. And that's pretty punchy stuff.”