Inflation & Prices
Fed’s Jefferson, Mester Say Inflation May Persist, Ease Slowly
- Governor Jefferson says price growth is from complex factors
- Cleveland’s Mester says she sees inflation risks titled higher
Philip Jefferson and Loretta Mester
Source: BloombergThis article is for subscribers only.
Federal Reserve officials said the inflation in the US is resulting from a complex set of unprecedented conditions, and that it may take time to decelerate.
“The inflationary forces impinging on the US economy at present represent a complex mixture of temporary and more long-lasting elements that defy simple, parsimonious explanation,” Governor Philip Jefferson said in remarks prepared for a panel Friday. “The ongoing imbalance between the supply and demand for labor, combined with the large share of labor costs in the services sector, suggests that high inflation may come down only slowly.”