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Fed’s Daly: – “Too-high inflation” not a risk to think about at the moment
– Don’t see “unwanted inflation” around the corner
– Pressures on inflation are downward.
Rather inconveniently for Mary Daly of the San Francisco Federal Reserve it was accompanied on the news wires by this.
CHICAGO (Reuters) – Kraft Heinz Co and Conagra Brands Inc said they may choose to raise prices this year on some products that use wheat, sugar and other commodities that are becoming increasingly expensive due to high demand.
Perhaps Mary Daly has been imputing prices from her model rather than looking at the real world. Of course central bankers famously look at core inflation measures which exclude food and energy.