Summary: Concerns about inflation have filled financial headlines recently as U.S. consumers reemerge from their homes and take note of higher prices and supply shortages in certain areas of the economy. But will higher inflation last? Or will it quickly revert back to more modest levels seen in recent decades?  In this episode, Northern Trust’s Katie Nixon is joined by Chief Economist Carl Tannenbaum to sort through this important topic, which has significant implications for the economy, markets and investors’ portfolios.  Carl discusses: What’s at stake when it comes to inflation — why containing inflation is important in the first place The two broad categories of inflationary forces: cyclical and secular   The drivers of recent spikes in consumer and producer prices Why housing market inflation bears watching over the coming months  Northern Trust’s near- and longer-term outlook for inflation  And more Related Insights: * Economic Commentary: Inflation’s Past, Present and Future * The Weekly Five * Should You Realize Capital Gains Now? About Guest: Carl Tannenbaum is a chief economist at Northern Trust. In this role, Carl briefs clients and colleagues on the economy and business conditions, prepares the bank’s official economic outlook and participates in forecast surveys. He is a member of Northern Trust’s investment policy committee, capital committee and asset/liability management committee. Prior to working at Northern Trust, Carl spent four years leading the Federal Reserve’s risk section and was deeply involved in the central bank’s response to the 2008 financial crisis.