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MNI BRIEF: Fed's Waller Worried About Wage Inflation

WASHINGTON (MNI)

Federal Reserve Board Governor Christopher Waller said Friday he is concerned about a possible wage-price spiral.

"What we all fear is this transitory or temporary inflation gets embedded into household expectations and wage demands," Waller said during a virtual Q&A. "That's what I'm very concerned about, and you're starting to see this in recently signed labor contracts."

University of Michigan survey chief Richard Curtin told MNI this week U.S. consumers are worried the authorities will fail to act to stem the recent spike in inflation.

MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com

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