Fed's Dudley: Upward pressure on inflation fading - MarketWatch
Although inflation has stayed stronger in recent months than many
expected, some of the upward pressures on prices are "fading," William
Dudley, the president of the New York Federal Reserve Bank, said
Thursday." In a speech to the Council on Foreign Relations in New York,
Dudley noted that oil and gasoline prices have fallen recently and
apparel prices should drop due to the sharp decline in cotton prices. "I
anticipate that inflation will decline to slightly below our 2%
long-run objective over the next few years," Dudley said. It is hard to
be very concerned about inflation risks when the growth rate of labor
compensation is so low and stable, he added. Earlier on Thursday, Dudley
said he did not think the Fed's bond-buying program, commonly known as
quantitative easing, would make it hard for the central bank to keep
inflation in check.
It is hard to be very concerned about inflation risks when the growth rate of labor compensation is so low and stable
It's only inflation when wages rise.
Agreed, they ( the Fed ) have stripped the CPI too its core, so much so that it has become a meaningless measure for sure.
ReplyDeleteObviously none of these so called economists shop for Goods and services.
They Hire illegals for that ( wink )
Good to see you BOP.