Former Atlanta Federal Reserve president and CEO Dennis Lockhart argues the U.S. economy isn’t making progress ‘that we need.’, one former Fed official weighed in on where inflation and the future of the U.S. economy is heading on "Mornings with Maria" Friday.Atlanta Federal Reserve
The personal consumption expenditures index showed that core prices, which strips out the more volatile measurements of food and energy,and rose 4.8% on an annual basis, according to the Commerce Department. Those figures are both higher than the 0.5% monthly increase and 4.7% annual increase forecast by Refinitiv economists.
The Federal Reserve is"not making the progress that we need" to combat inflation, former Atland Federal Reserve president and CEO Dennis Lockhart said on"Mornings with Maria" Friday, July 29, 2022."What I saw was a very measured approach, and I think he sort of vindicated that the Fed has ended one phase, which was the phase of catching up and front ending the rate increases and getting to neutral," the former Atlanta Fed president said.
"They'll have a bit more accumulated data by September to really start to try to fine tune their reaction to what they're seeing in the inflation numbers," Lockhart said.
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