Benchmark
Here's Why This Fed President Thinks Inflation's About to Rebound
In the search for price pressure, positive signs are emerging
A magnifying glass is held over a 50 subject one dollar note sheet after being printed by an intaglio printing press in this arranged photograph at the U.S. Bureau of Engraving and Printing in Washington, D.C., U.S., on Tuesday, April 14, 2015.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Inflation continues to underwhelm the Federal Reserve's 2 percent target, with the overall personal consumption expenditures price index picking up just 0.3 percent for the year ending February. Even so, New York Fed President William Dudley said Monday he expects inflation to "begin to firm later this year." Fed officials say they won't raise interest rates until they are "reasonably confident" that inflation is heading up.
Here's what Dudley's looking at, according to his recent comments.