Fed's Clarida maintains that elevated inflation rate is 'largely transitory'
San Francisco Fed president Mary Daly indicated the U.S. economy is far from fully recovered and needs more time to heal.Federal Reserve Chairman Jerome Powell on Wednesday said a bout of high U.S. inflation could be prolonged into early next year because parts and material shortages might be getting worse.
The president of the New York Federal Reserve on Monday said he thinks the rate of inflation in the U.S. will decline to around 2% next year, though he acknowledged a "great deal of uncertainty" about his forecast.Philadelphia Fed President Patrick Harker said Wednesday the Fed could hike rates for the first time late next year or early 2023.Sen. Elizabeth Warren called Fed Chairman Jerome Powell a dangerous man and said she would oppose giving him a second four-year term.
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