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- Fed's George: Now may be a time when Fed's goals appear to be in conflict
Fed's George: Now may be a time when Fed's goals appear to be in conflict
Kansas City Fed President Esther George said on Friday that inflation is running well ahead of the long-term average and added that the labor market appears to have further room to recover, as reported by Reuters.
Additional takeaways
"Reason to expect inflation will eventually moderate, but the risk of prolonged high inflation has increased."
"Choices for policymakers complicated by uncertainty on the outlook for how long inflation, labor market frictions will last."
"Supply disruptions have contributed to the rise in prices."
"Now may be a time when fed's goals appear to be in conflict."
"Tightness in labor market could prove temporary."
"Number of indicators point to a tight labor market."
Market reaction
These comments were largely ignored by market participants and the US Dollar Index was last seen rising 0.12% on the day at 94.44.
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