Federal Reserve Expects US Inflation To Fall From 3.4% This Year To 2.1% In 2022 - Powell

WASHINGTON (Pakistan Point News / Sputnik - 17th June, 2021) The Federal Reserve expects US inflation to fall from a projected 3.4 percent this year to 2.1 percent as supply disruptions in the economy continue to ease, Chairman Jerome Powell said on Wednesday.

"Inflation is expected to drop back toward our longer run goal and the median inflation projection falls from 3.4 percent this year to 2.1 percent next year and 2.2 percent in 2023," Powell told a news conference. "Longer term inflation expectations remain well anchored at 2 percent."