Raphael Bostic, the head of the central bank’s Atlanta district has said that inflation is too high and they have to get it under control.
There is a need for stable prices for maximum employment growth.
Fed cannot solve all the problems causing current inflation.
The US labor market is still in the middle of adjusting to new wage and occupation trends that grew out of the pandemic as large firms raise wages and draw workers away from jobs that pay less, Bostic said on Tuesday.
US dollar update
- Will the US dollar come back by popular demand?