Dean Maki, chief U.S. economist for Barclays, told CNBC’s “Power Lunch” that consumer spending is strong, but inflation is still a concern.
He said it would be a just about a “Goldilocks economy” – not too hot or too cold – if inflation were a point lower.
“Inflation is the main concern of the Fed at present,” Maki said Tuesday. “I think it’s a mistake to ignore headline inflation which has been running high the last several years because global monetary policy is quite easy.”
David Wyss, chief economist for Standard & Poor’s, said he wasn’t alarmed by the current inflation rate and saw no danger of what some call “stagflation light.”
“I went stagflation in the 1970s and 80s,” Wyss said. “You had double-digit inflation and 1% growth. Now, you’re getting excited about 2% inflation and 2.5% growth? By historical standards, and certainly by the standards of the 1970s and 80s, this is just about perfect.”