(Reuters) – U.S. consumers are much more aware of inflation levels today than they have been over the past decade and Federal Reserve officials need to monitor inflation expectations closely, Kansas City Fed President Esther George said on Wednesday.
“Policymakers have to keep their eye on inflation expectations,” George said during a virtual seminar organized by the National Association for Business Economics. “We do see firms having more pricing power than they would have five years ago, even two years ago, and the public is certainly more aware today of inflation.”
(Reporting by Jonnelle Marte; Editing by Paul Simao)
