RICHMOND, Virginia, April 7 (TNSLrpt) -- The Federal Reserve Bank of Richmond issued the following economic brief (No. 26-11) in April 2026 by Thomas Lubik entitled "What Is Trend Inflation?"

Here are excerpts:

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Key macroeconomic aggregates such as GDP or the labor force exhibit clear visible trends. That is, they increase or decrease in a persistent and steady manner over extended periods of time. In common parlance, a trend is thus a featur . . .

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