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

by Mike Robinson

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© Reuters. Richard Clarida (Federal Reserve Vice Chairman), greets one of the Dallas Fed employees before getting on a bus for a tour of South Dallas in part of an outreach program by U.S. central banks. This was done in Dallas, Texas. February 25, 2019. REUTERS/Ann Saphir/File

NEW YORK, (Reuters) – Federal Reserve officials don’t like the elevated inflation above the central banks’ 2% target. It is important that actual inflation falls to keep inflation expectations near the goal of the central bank, Richard Clarida Fed Vice Chair Richard Clarida stated on Tuesday.

Clarida stated that “no one is happy” when inflation runs at 4% and 5%, when the goal is 2%. Clarida was speaking to Loretta Mester, Cleveland Fed President. This year’s inflation was not successful, so I don’t think a repeat at the same level next year would be a success.

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