Home Economy News Fed’s Clarida says ‘no one’ is happy with inflation running above 2% target

Fed’s Clarida says ‘no one’ is happy with inflation running above 2% target

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Economy39 minutes ago (Nov 30, 2021 02:25PM ET)

(C) Reuters. Federal Reserve Vice Chairman Richard Clarida, greets a member of the Dallas Fed staff before boarding a bus to tour South Dallas as part of a community outreach by U.S. central bankers, in Dallas, Texas, U.S., February 25, 2019. REUTERS/Ann Saphir/File

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.”

Fed’s Clarida says ‘no one’ is happy with inflation running above 2% target

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