FOMC members offer conflicting takes on US inflation path

Narayana Kocherlakota

Members of the Federal Reserve's Open Market Committee (FOMC) offered conflicting views on the future path for US inflation yesterday, underlining disagreements on the policy-making body over the timing of an increase in interest rates.

Jeffery Lacker, head of the Federal Reserve Bank of Richmond and a voting member on the FOMC, said yesterday that inflation had likely "bottomed out" and was moving closer to the Fed's 2% target, after consumer price inflation averaged 2.5% in the three months si

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