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MNI BRIEF: Fed's Powell Nods to Worries of Higher Inflation

(MNI) WASHINGTON
WASHINGTON (MNI)

Federal Reserve Chair Jerome Powell said U.S. inflation readings "will likely remain elevated in coming months" before easing back toward the Fed's 2% target, but he acknowledged rising uncertainty about the future path.

"Inflation could turn out to be higher and more persistent than we expect," Powell said in prepared remarks during his press conference Wednesday.

Powell added the central bank agrees the economy is still "some ways" from meeting the Fed's target of substantial further progress for tapering QE.

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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