TechFlow news, May 29 — According to Jinshi Data, "Fed whisperer" Nick Timiraos pointed out that the Federal Reserve presented a clear stagflation forecast during its May meeting, an important development that could form the basis of the Summary of Economic Projections (SEP) officials will submit next month. As usual, the Fed's description was relatively calm but explicitly highlighted a significant slowdown in the labor market, which would lead to rising unemployment this year and keep unemployment elevated throughout the forecast period (through 2027). The Fed also projected that inflation would rise "significantly" this year, with smaller price gains expected in 2026. Notably, Fed staff indicated that if their projections for 2026 and 2027 (when inflation is expected to reach 2%) prove inaccurate, it would more likely be due to underestimating rather than overestimating inflation risks.
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