Fed’s Waller: Ongoing wage increases could make inflation more persistent

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FILE PHOTO: The U.S. Federal Reserve building is pictured in Washington

WASHINGTON (Reuters) – Federal Reserve Governor Christopher Waller said on Wednesday he is concerned that the outbreak of inflation since 2021 has raised wage pressures going forward in ways that could make it harder to lower the pace of price increases.

“If you start building higher wages into your business plan…you are not going to eat that,” Waller said. “There is a lot of wage growth that could funnel through.”

(Reporting by Howard Schneider; Editing by Leslie Adler)

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