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FED: Powell Asked Where The Inflationary Pressure Is In The Economy

FED
  • Q:Can you tell us where you see inflationary pressure in the economy?
    • A: It's true pressures have come down but we're still getting high readings. You can see it in various places. In some parts of non-housing services you still see elevated inflation and that could be to do with wages. Goods prices have fluctuated, there's been a surprising increase in import prices and we've taken some signal from that. Housing services are still high as catch-up inflation from earlier pressures. We haven't thought of wages as being the principal cause of inflation, but at the same time, getting back to 2% inflation is likely to require returning to a more sustainable level, which is somewhat below the current level of increases.
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