NEW YORK, Nov 30 (Reuters) - Federal Reserve officials are
not happy with elevated inflation running above the central
bank's 2% target and it would not be a success for those
inflation levels to be repeated next year, Fed Vice Chair
Richard Clarida said on Tuesday.
"No one is happy when inflation is running at 4% or 5% when
our goal is 2%," Clarida said during a conversation with
Cleveland Fed President Loretta Mester. "This is not a success,
this year, and I wouldn't consider a repeat next year of
inflation at this level a success."
Several Fed officials, including Fed chair Jerome Powell,
have said inflation is likely to persist for longer than they
initially expected. Policymakers will discuss in December
whether it might be appropriate to end their bond purchases a
few months earlier than they are currently on pace for, Powell
said during a Senate hearing earlier on Tuesday.
Clarida, who did not comment on the Fed's taper plans on
Tuesday, said the central bank has met its inflation target and
noted that bringing down inflation will be key to keeping
inflation expectations anchored. He said the Fed will also need
to achieve its maximum employment mandate before raising
(Reporting by Jonnelle Marte
Editing by Chizu Nomiyama)