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The current level of American prices appears to be noticeably lower, compared to what it would be if the Fed had delivered on its 2% inflation objective. St. Louis Federal Reserve President James Bullard considered the given tendency to be quite worrisome.
In slides specially prepared for delivery in Tokyo, the American major banker told that in the USA prices are currently 4.6% below the price level path established in 1995-2012, when inflation was ascending close to the Fed's objective of 2% annually.
Of course, it’s not as tough as the 1990s Japanese experience. Nevertheless, it happens to be worrisome enough. That’s what Bullard told. By the way, he won’t vote on American monetary policy this year.
Too-low inflation has kept the Federal reserve from lifting interest rates more than three times since the Great Recession, though since late last year the vast majority of Fed policymakers have seen faster rate lifts ahead, citing definite improvements in the labor market.
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