Fed leaders hold dovish line as CPI surges
Board members and regional presidents say inflation and employment goals still far from met
Federal Reserve leaders stressed the fragility of the economic recovery in recent statements, defending their view that neither employment levels nor inflation are high enough to tighten rates.
Their interventions come as some commentators warn of price increases. The latest figures for CPI inflation, published today (May 12), show prices climbed 4.2% over the 12 months to April, the highest figure since 2008.
PCE inflation, the Fed’s preferred measure, reached 2.3% in March 2021. Core PCE
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