Feds Jefferson: Wage growth is running too high to be consistent with 2% inflation

Fed Gov. Jefferson is speaking and says:

• US central bank Central bank A central bank is a financial institution that manages a country's monetary policy, and that often also includes issuing and/or monitoring the currency and regulating the money supply. Central banks also typically act as a lender of last resort to banks in times of financial crisis, and may also supervise and regulate banks and other financial institutions. Examples of central banks include the Federal Reserve in the United States, the European Central Bank, and the Bank of Japan.The chief task A central bank is a financial institution that manages a country's monetary policy, and that often also includes issuing and/or monitoring the currency and regulating the money supply. Central banks also typically act as a lender of last resort to banks in times of financial crisis, and may also supervise and regulate banks and other financial institutions. Examples of central banks include the Federal Reserve in the United States, the European Central Bank, and the Bank of Japan.The chief task Read this Term is addressing inflation promptly, forcefully to maintain its credibility, preserve inflation anchor
• Outlook for non-housing core services inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term depends on whether labor demand moves into better balance with labor supply
• Wage growth is still running too high to be consistent with timely, sustainable return to 2% inflation
• Ongoing imbalance between supply and demand for labor suggests high inflation may come down only slowly
• Feds credibility is higher now than in 1960s and 1970s
• Rrgument that policymakers should accept that this inflation will be costly is well reasoned
• Current situation is different from past inflation fights
• Policymakers must complement findings from economic models with careful scrutiny of real-time data

Jefferson has not spoken for a number of months. He is a voting member's comments suggest is on board with the fight against inflation.