NEW YORK—Both supply-side and demand-side factors are contributing to U.S. inflation right now, but most of the current price changes may be driven by pandemic-related shifts that could subside over time, Cleveland Federal Reserve Bank President Loretta Mester said on Thursday. Policymakers need to distinguish short-term inflationary pressures from inflation that could be longer lasting…
Fed’s Mester Says US Inflation Mostly Driven by Pandemic-Related Factors
Fed’s Mester Repeats First Rate Hike Could Come at the End of 2022
NEW YORK—The Federal Reserve’s conditions for raising interest rates could be met by the end of 2022, Cleveland Fed Bank President Loretta Mester said on Friday, adding that she expects inflation to come back down to the central bank’s target next year. “I think we’ll see progress in the labor market and progress on inflation…
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