Wall Street: Inflation Is Too High and Has Persisted Too Long, No Obvious Improvement Seen in Summer Data

Odaily News: In his opening remarks at a press conference, Federal Reserve Chair Waller emphasized that both he and other policymakers are dissatisfied with the current pace of inflation. He stated: "What we are most focused on right now is the price stability side of our monetary policy mandate. The fact is simple: inflation is too high, and it has persisted for too long. The inflation data this summer has not shown me any meaningful improvement in the underlying trend." He pointed out that in recent CPI and PPI data, there are still too many categories with gains exceeding 3% over the past 6 months and 12 months. The Fed Chair emphasized that the FOMC's goals are clear and crucial: achieving full employment and price stability, and promoting a thriving U.S. economy that serves as a global benchmark. (Jinshi)