re: Powell: Fed can maintain higher rates for "as long as needed"

We’re going to have demand driven moderate inflation for the next decade… the largest cluster of millennials, already being the largest population group in the country, are just entering the absolute prime of their spending years (35-45 years old). That’s going to cause a consistent demand push for the next decade that will make anything below 3% inflation extremely hard to achieve. People need to expect 3-5% as our new baseline, and prepare accordingly