NEW YORK (Reuters) – Federal Reserve officials are not happy with elevated inflation running above the central bank’s 2% target and bringing actual inflation down will be important to keeping inflation expectations anchored near the central bank’s goal, Fed Vice Chair Richard Clarida said on Tuesday.
“No one is happy when inflation is running at 4% or 5% when our goal is 2%,” Clarida said during a conversation with Cleveland Fed President Loretta Mester. “This is not a success, this year, and I wouldn’t consider a repeat next year of inflation at this level a success.”
(Reporting by Jonnelle Marte)
