Fed's Mester: Fed has made slow progress on inflation. It's concerning- Says she may have to revise up her inflation projections in the next SEP in June
- Data confirms inflation is still too high
- PCE inflation underscored slow progress
- Everything is on the table for June FOMC
- Fed committed to lowering inflation in a timely way
- Hasn't seen much sign that banking stress is affecting credit conditions
- Says she does think they will have to tighten 'a bit more'
Just like in the market, you can see Fed officials beginning to fret about inflation. The May CPI report will be critical.
This article was written by Adam Button at www.forexlive.com.
Source: Fed's Mester: Fed has made slow progress on inflation. It's concerning (https://www.forexlive.com/centralbank/feds-mester-fed-has-made-slow-progress-on-inflation-its-concerning-20230526/)
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