Fed policy-makers express frustration over price rises
Officials draw differing conclusions on the outlook for the labour market
Federal Reserve policy-makers expressed frustration with the deviation of inflation from the 2% target in recent remarks, though recent inflation figures have offered some relief.
Fed chair Jerome Powell said the first quarter of this year in the US was notable for its lack of progress on inflation.
“We didn’t expect this to be a smooth road, but these [readings] were higher than anybody expected,” Powell said on May 14. He argued the Fed needs to be patient and let its restrictive monetary policy
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