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Fed report says labor, wages could drive persistent inflation -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A U.S. Federal Reserve office facade is topped by an eagle, Washington July 31, 2013. REUTERS/Jonathan Ernst/File photo

WASHINGTON (Reuters] – Inflation could be a problem in the U.S. if there are labor shortages, rising wages and continued wage growth. That is the warning that the Federal Reserve issued Friday to Congress with its most recent monetary reports.

Although some price pressures on goods could ease over the next few months, inflation pressures can persist and broaden, according to the Fed report. Next week, Jerome Powell, Fed chair will speak at Congressional hearings about the most recent Fed report.

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