Fed's Mester says inflation could come down next year, with upside risks

Fed's Mester says inflation could come down next year, with upside risks

Fed's Mester says inflation could come down next year, with upside risks

Cleveland Federal Reserve Bank President Loretta Mester poses during an interview on the sidelines of the American Economic Association’s annual meeting in San Diego, California, U.S., January 3, 2020. REUTERS/ Ann Saphir/File Photo

Sept 10 (Reuters) – U.S. inflation could remain high this year but come back down next year, with upside risks to the outlook, Cleveland Federal Reserve Bank President Loretta Mester said on Friday.

Mester also said Fed officials should provide the public with more clarity on how they are assessing maximum employment and inflation, according to remarks prepared for a virtual event organized by the Bank of Finland.

For example, Mester said the central bank could provide more information in the post-meeting policy statement about why their economic outlook changed.

Reporting by Jonnelle Marte
Editing by Chizu Nomiyama

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