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Fed’s Harker says he worries inflation won’t be as transient as expected By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – The Federal Reserve Building is shown in Washington, DC, U.S.A, August 22, 2018. REUTERS/Chris Wattie/File photo

NEW YORK, (Reuters) – While Harker does not anticipate inflation spiraling out of control in the near future, President Patrick Harker at Philadelphia Federal Reserve Bank said he was concerned that inflationary pressures might not be as temporary as he had hoped.

Harker, a member of the New Castle County Chamber of Commerce said that he is more concerned about inflation being not as swift as people think. Harker spoke at a virtual meeting. A Fed official stated that there are “supply chains constraints very severe”. Some business leaders anticipate it could take years for conditions to return to pre-pandemic levels.

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