11/30/2021, 7:53 PM (Source: TeleTrader)
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Fed's Clarida: Revising up inflation forecast a reality

United States Federal Reserve Vice Chair Richard Clarida (pictured) stated on Tuesday that revising up inflation projections has been a "reality this year." The Fed and private sector forecasters did not expect the ongoing rise in consumer prices "as recently as March or April," according to him.

A repeat of this level of inflation next year would certainly not be considered "success" by the Fed, Clarida stressed, adding that supply disruptions created more problems for monetary policymakers. Speaking at a town hall event hosted by the Cleveland Fed, he noted that he is still "comfortable" with inflation expectations.

The labor market is "tighter" than it had been in previous recessions, he also pointed out.

Baha Breaking the News (BBN) / MS