Cleveland Federal Reserve Bank president Loretta Mester doesn’t think a recession will take place in the United States but believes it will take two years to get inflation back down to 2%. While speaking during an interview on Sunday, Mester explained that while it will take two years, inflation “will be moving down.”A 2% Inflation Rate Will Take 2 Years to Achieve, Says Cleveland Fed President Loretta Mester
The president and CEO of the Federal Reserve Bank of Cleveland, Loretta Mester, spoke to CNBC in an interview on Sunday to discuss America’s issues with inflation and a slowing economy. Mester says growth is “slowing to a little bit below-trend growth” but she does not believe the United States will fall into a recession. “It isn’t going to be immediate that we see 2% inflation. It will take a couple...
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