Fed's Stern sees no pick-up in inflation

Minneapolis Fed President Gary Stern said Friday if US inflation remains low, which he thinks it will, interest rates can also remain low. "I don't expect to see any material acceleration of inflation next year," Stern said in an interview, stressing that companies have little pricing power in a highly competitive economy.

Source: Reuters

Inflation is unlikely to pick up next year and as long as it stays quite low, official U.S. interest rates can stay low as well, Minneapolis Federal Reserve P