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Fed official Musalem: Inflation target has not been achieved, but employment target has been reached.
[Coin World] Alberto Musalem, President of the Federal Reserve Bank of St. Louis, stated that he supports the decision made by the Fed policymakers last week to keep the Intrerest Rate unchanged, adding that the Fed still falls short of achieving its inflation targets. "Current economic conditions suggest that we have not yet achieved the inflation target," Musalem said during an event in Itta Bena, Mississippi, on Friday. He added, "We have no gap in our employment objectives," as the labor market is nearing full employment. Musalem mentioned last month that he expects the inflation effects related to tariffs to appear in the summer, but it is still too early to determine whether this impact will be persistent.