The strong labor market may hamper the Fed's efforts to curb inflation, Fed. Gov. Philip Jefferson said on Friday.
The strong job market may make it hard for the U.S. central bank to bring down inflation, Federal Reserve Gov. Philip Jefferson said on Friday.
Jefferson... The strong job market may make it hard for the U.S. central bank to bring down inflation, Federal Reserve Gov. Philip Jefferson said on Friday.the large share of labor costs in the services sector, suggests that high inflation may come down only slowly,” Jefferson said in a speech at a University of Chicago Booth School of Business conference in New York.
He said that the inflationary forces impinging on the U.S. economy “represent a complex mixture of temporary and more long-lasting elements that defy simple, parsimonious explanation.”
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