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MNI BRIEF: Fed Has Further To Go To Conquer Inflation-IMF Econ

(MNI) WASHINGTON

IMF chief economist Gourinchas cautions against raising 2% inflation target.

Central banks have further to go to ensure inflation will come back down to target, IMF Chief Economist Pierre-Olivier Gourinchas said Tuesday, also pushing back against notions the Federal Reserve will be able to pause its rate-hiking cycle sooner despite recent positive signs on inflation.

The Fed should not adjust its 2% inflation target higher, Gourinchas added in Q&A at an Economic Encounters conference hosted by the Embassy of France in Washington, stating that it would have negative repercussions for the central bank's credibility.

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Central banks have further to go to ensure inflation will come back down to target, IMF Chief Economist Pierre-Olivier Gourinchas said Tuesday, also pushing back against notions the Federal Reserve will be able to pause its rate-hiking cycle sooner despite recent positive signs on inflation.

The Fed should not adjust its 2% inflation target higher, Gourinchas added in Q&A at an Economic Encounters conference hosted by the Embassy of France in Washington, stating that it would have negative repercussions for the central bank's credibility.

Keep reading...Show less