WASHINGTON: The US economy is set to take off this year as more Americans get Covid-19 vaccinations and become comfortable engaging in a wider range of activities, but any accompanying spike in inflation is likely to be temporary, the Federal Reserve’s newest board member said on Friday, echoing the view of most US central bankers.
To that end, a measure of inflation expectations released on Friday, bolstered the take on price pressures from Governor Christopher Waller (pictured).
It showed an uptick in inflation expectations in the first quarter but offered no indication of them becoming untethered from the Fed’s targeted level.
“I think the economy is ready to rip’’, Waller said during an interview with CNBC. “Everyone is getting a lot more comfortable with having the virus under control and we’re starting to see it in the form of economic activity.” — Reuters
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