Economics
Dudley Says Inflation Will ‘Take Some Time’ to Reach Fed's Goal
- New York Fed chief says low productivity weighs on wage growth
- High inequality one of America’s most important issues: Dudley
Konstam Sees Inflation Equilibrium Closer to 1 Percent
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Federal Reserve Bank of New York President William Dudley cautioned that “it’s going to take some time” for inflation to rise to the central bank’s 2 percent target even as he offered a generally positive outlook for the U.S. economy, job market and price pressures.
“Our outlook anticipates a continued moderate growth trend, with some further strengthening in the labor market and an increase in inflation over the medium term toward our objective of 2 percent,” he said Thursday in prepared remarks at a press briefing in New York on inequality.