Policy has not been tight long enough – governors
Hot labour markets boost wages and core inflation, making inflation persistent
Monetary policy has not been restrictive long enough to bring inflation to central banks’ targets, several top central bankers said today (June 28).
US Federal Reserve chair Jerome Powell, European Central Bank president Christine Lagarde and Bank of England governor Andrew Bailey agreed on this point at the ECB’s forum in Sintra, Portugal.
Related Fed holds policy rate steadyPowell says conditions for lower inflation are coming into place, and July will be a “live meeting”
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