NEW YORK (Reuters) – Inflation readings are rising in the near term as companies struggle with supply chain disruptions and prices rebound from lows reached early in the pandemic, but price growth is likely to slow as time passes and those challenges are resolved, Cleveland Federal Reserve Bank President Loretta Mester said on Thursday.
“I’m not too concerned about inflation moving too high at this point,” Mester said during a virtual conversation with college students. A modest increase in inflation expectations are not worrisome because expectations have been running below the Fed’s target, Mester said.
(Reporting by Jonnelle Marte; Editing by Chris Reese)
