Stock Groups

Fed’s Mester says it will take 2 years until inflation falls to 2% target -Breaking


© Reuters. FILE PHOTO – Loretta Mester, President of Cleveland Fed, participates in an event to discuss the state of America’s economy. It was held in New York on November 18, 2015. REUTERS/Lucas Jackson/File Photo

WASHINGTON (Reuters), Loretta Mester, President of Cleveland Federal Reserve Bank said that it would take at least two years before inflation reaches the central bank’s 2% target.

It is unlikely that we will see inflation of 2% immediately. In an interview with CBS News, Mester explained that it would take several years for inflation to slow down.