Cleveland Fed's Mester says inflation elevated through 2023 but trajectory will fall - CBS
WASHINGTON, April 10 (Reuters) - Inflation will remain high this year and next even as the Fed moves steadily to try to get the pace of price increases under control, Cleveland Fed president Loretta Mester said Sunday in an interview on CBS' "Face the Nation."
By making credit more expensive, Fed interest rate increases and other actions "will help reduce excess demand, which is outpacing constrained supply, and bring price pressures down," to the Fed's 2% inflation target, Mester said. "I think it will take some time... Inflation will remain above 2% this year and even next year. But the trajectory will be moving down." (Reporting by Howard Schneider; Editing by Daniel Wallis)
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