By Michael S. Derby
Sept 24 (Reuters) – Federal Reserve Bank of Cleveland President Beth Hammack said on Thursday that inflation pressures remain elevated and the longer this situation persists, the harder it will be to bring price pressures back to target.
“Current conditions in the United States indicate that output is growing at a solid pace and the labor market remains close to my definition of maximum employment, but inflation remains elevated,” Hammack said in comments opening a conference at her bank. “The inflation outlook continues to be highly uncertain, with risks tilted to the upside” and “the longer that high inflation persists, the more challenging and costly it can be to bring it back down,” she said.
(Reporting by Michael S. Derby; Editing by Andrea Ricci )
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