Federal Reserve Bank of St. Louis President Alberto Musalem stated on Wednesday that energy shocks linked to the conflict involving Iran will certainly impact overall inflation and could also affect core inflationary pressures.
"I expect the surge in commodity prices to affect headline inflation on a nearly one-to-one basis, and headline inflation will likely remain elevated for a period," Musalem said during an event hosted by the American Enterprise Institute in Washington. "Core inflation will also be impacted to some extent, and I will closely monitor the magnitude of that impact and the relationship between the two."
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