By Staff Reporters
Fed Official Says Inflation Fight Will Take Time, Despite Signs of Progress
Bringing inflation down from 40-year highs is likely to take time and will require a slowdown in economic growth and reduced demand for workers by employers, a Federal Reserve official said yesterday.
Those efforts are showing tentative signs of progress, said Fed governor Philip Jefferson, in his first public remarks since taking office in May. But Mr. Jefferson also said he remains concerned that higher prices could change consumer expectations around inflation in a way that makes further price increases self-fulfilling.
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READ: Fed Official Says Inflation Fight Will Take Time, Despite Signs of Progress (msn.com)
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