Federal Reserve Bank of Kansas City President Esther George
- further war-related production delays and lockdowns could raise inflation , and mean more Fed intervention
- war, or China lockdowns, on the other hand, might slow growth and trim inflation
- the pandemic may have harmed irreversibly the productive potential of the economy
I expect the Fed's policy rate to be in the neighbourhood of 2% by August
evidence inflation is clearly decelerating will inform judgments about further tightening
inflation is too high and too broad to dismiss; returning it to the Fed's 2% target goal is 'top priority'
surplus household savings are a crucial wildcard for the demand forecast
Federal Reserve Bank of Kansas City President Esther George. This is the only central bank facial expression that should be permitted in public.