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MNI:Fed's Waller Hopes Inflation Comes Down With 'Little Pain'

(MNI) WASHINGTON

Remarks largely academic, focused on Phillips curve debate.

The Federal Reserve should be able to bring inflation back to its 2% target without a sharp rise in unemployment because inflation expectations remain well anchored, Fed Governor Christopher Waller said Friday.

"Measures of longer-term inflation expectations have remained contained, while shorter- term expectations had moved up in 2021 and have partially reversed their earlier increases," Waller said in prepared remarks for a speech at a San Francisco Fed conference.

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The Federal Reserve should be able to bring inflation back to its 2% target without a sharp rise in unemployment because inflation expectations remain well anchored, Fed Governor Christopher Waller said Friday.

"Measures of longer-term inflation expectations have remained contained, while shorter- term expectations had moved up in 2021 and have partially reversed their earlier increases," Waller said in prepared remarks for a speech at a San Francisco Fed conference.

Keep reading...Show less