Federal Reserve official Hammack said there is no conflict between the Fed’s two mandates, while identifying persistently elevated inflation as the bigger concern. She said the labor market is close to full employment. Hammack also pointed to a nowcast for core personal consumption expenditures, or core PCE, showing core inflation at 3.3%. The remarks, cited by Odaily and attributed to Jin10, focused on the balance between inflation and employment rather than signaling any clash between the two policy goals.
Federal Reserve official Hammack said there is no conflict between the Fed’s dual mandate.
She said persistently high inflation is the bigger concern, while the labor market is near full employment.
A current nowcast for core personal consumption expenditures, or core PCE, shows core inflation at 3.3%.
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