Cleveland Fed report suggests US inflation may not reach 2% target for at least 3 years.
The Cleveland Fed's report suggests that US inflation may not fall to the Federal Reserve's 2% target for at least three years. Although pandemic-related shocks have eased, the report identifies persistent factors driving price pressures. Cleveland Fed economist Randal Verbrugge indicates that it may take several years for inflation to return to pre-pandemic levels, with mid-2027 as the earliest forecast.
June 03, 2024
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