Fed’s Dudley Predicts Surging Inflation Amid Moderate Economic Growth

Federal Reserve Bank of New York President William Dudley offered a positive outlook for the U.S. economy, job market and inflation on Thursday, saying better conditions would help support the most vulnerable Americans.

“Our outlook anticipates a continued moderate growth trend, with some further strengthening in the labor market and an increase in inflation over the medium term toward our objective of 2 percent,” he said in opening remarks prepared for delivery at a press briefing in New York on inequality.

“Stronger labor market conditions are perhaps the best means to improve the economic well-being of most Americans, particularly those who have been struggling and are most vulnerable to economic downturns,” said Dudley, who also serves as vice chairman of the policy-setting Federal Open Market Committee.

Fed policy makers are expected to announce when they meet next month that they will begin paring down the U.S. central bank’s $4.5 trillion



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