3/27, 11:53 PM (Source: TeleTrader)
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Fed's Jefferson says inflation will return to target rate

United States Federal Reserve Board of Governors member Philip Jefferson in his speech on Monday expressed concern about the longer-lasting and higher-than-desired inflation rate.

The official said believes that inflation has decreased and will continue to fall towards the target rate of 2%, but that the Fed has to avoid damaging the economy "any more than is necessary." He, however, noted that some components of inflation have proven to be persistent and that the bank will continue to monitor the situation.

Baha Breaking News (BBN) / NL