WASHINGTON (Reuters) – Cleveland Federal Reserve Bank President Loretta Mester said it will take two years for inflation to come down to the central bank’s 2% target.
“It isn’t going to be immediate that we see 2% inflation. It will take a couple of years but it will be moving down,” Mester said in an interview with CBS News on Sunday.
(Reporting by Kanishka Singh in Washington; Editing by Lisa Shumaker)