Fed’s Harker Expects Inflation to Stay Above Target for Up to Two Years
Philadelphia Fed President Patrick Harker foresees persistent inflation exceeding the central bank’s goal over the next one to two years.
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Terms & Concepts
- Inflation Target: A benchmark rate set by a central bank, representing the desired annual increase in consumer prices to maintain economic stability.
- Federal Reserve: The central banking system of the United States, responsible for setting monetary policy and regulating financial institutions.