Likelihood of persistently high inflation rose – Fed’s George

While it is to be expected for inflation in the United States to decline, the likelihood of persistently higher inflation has recently increased, Federal Reserve Bank of Kansas City President Esther George (pictured) asserted on Friday.

Delivering remarks at a conference hosted by the Federal Reserve Banks of Kansas City and Dallas, George added that the labor market situation is not satisfactory, describing the current state of affairs as “tight.”

“The argument for patience in the face of these inflation pressures has diminished,” George concluded.



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