Oct 15 (Reuters) – Federal Reserve Bank of Cleveland President Beth Hammack said on Thursday if there were to be a deterioration in the public’s inflation expectations that would likely require more aggressive central bank action to counter.
“What I worry about is, if you get this inflationary mindset, if you get these expectations that these price pressures become more and more persistent, it makes it much harder for monetary policy to do the work that we need to do, and we might need to move even more than if you don’t have an inflationary mindset set in,” Hammack said at an event held by Goldman Sachs in New York.
(Reporting by Michael S. Derby; Editing by Chris Reese)
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