Fed's Mishkin says inflation policy may take time

04/23/2007 | Bloomberg

Federal Reserve Governor Frederic Mishkin said the central bank's current stance to reduce inflation "may take time," though it is likely to slow price gains outside of food and fuel. "Achieving further reductions in inflation may take time," Mishkin said in a speech at Bard College in New York. "Uncertainties surrounding the economic outlook have increased recently, and I remain concerned that the persistence of inflation at the recent elevated rate could have adverse consequences for economic performance."

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