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MNI BRIEF: Fed’s Collins, Mester-Inflation Drop To Take Longer

(MNI) WASHINGTON

Fed can be patient, the two regional Fed presidents say.

It will take more time than previously believed for inflation to return to the Federal Reserve’s 2% target, Boston Fed President Susan Collins and Cleveland Fed President Loretta Mester said Tuesday.

“It’s going to take longer for us to see the extent of progress that I think is going to be necessary to change our policy stance,” Collins said during a Q&A.

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It will take more time than previously believed for inflation to return to the Federal Reserve’s 2% target, Boston Fed President Susan Collins and Cleveland Fed President Loretta Mester said Tuesday.

“It’s going to take longer for us to see the extent of progress that I think is going to be necessary to change our policy stance,” Collins said during a Q&A.

Keep reading...Show less