Bloomberg Surveillance · Wednesday, September 2, 2026
Frances Donald stated that inflation is a problem in the US, but not solely due to energy prices, with 50% of CPI basket items running above 3%. She pointed to ongoing food inflation, tariffs, and persistent energy costs as factors contributing to inflation not working in the Fed's favor.
“Well, energy is a problem with U.S. inflation, but it's not The problem, in fact, I have this chart pack. It's got about 15 charts on inflation, and they're all either stuck or going in the wrong way.”
“And to give you a sense that this isn't just an energy story, 50% of the items in the CPI basket are running above 3%. probably with more to come.”
“There's still food inflation in the pipeline. There's more tariffs for the Americans to deal with. There is energy that doesn't seem to be going away.”