(Reuters) – Inflation is likely to remain stubbornly persistent and will require the Federal Reserve to keep to the task of getting inflation back down to its 2% goal, St. Louis Fed President James Bullard said on Thursday.
“We’ve got a long ways to go and I think inflation is going to be sticky going forward, it’s going to be difficult to get inflation back down to the 2% target… so we are going to have to stay at it in order to apply pressure to make sure inflation gets back down,” Bullard said following a speech on the U.S. economy to the Arkansas Bankers Association in Little Rock, Arkansas.
(Reporting by Lindsay Dunsmuir; Editing by Chizu Nomiyama)
