Calculating Inflation: Fed Has No Control Over Supply Drivers

<p>"Inflation forecast has to be raised due to the higher commodity prices amid geopolitical tensions. Prices will likely remain elevated. I do not anticipate that inflation will achieve the 2% target next year," says Dana Peterson. Can the Federal Reserve tamp down the demand drives of inflation? "Even with a peak in inflation, the CPI index came in high. The Fed needs to continue raising interest rates," Peterson adds. </p><p><br></p>