September 12, 2016 / 12:55 PM / 3 years ago

Fed's Lockhart wage pressures appear to be broadening despite weak inflation

Dennis Lockhart, President of the Federal Reserve Bank of Atlanta, arrives at the opening reception of the Jackson Hole Economic Policy Symposium in Jackson Hole, Wyoming August 21, 2014. REUTERS/David Stubbs

ATLANTA (Reuters) - Wage pressure appears to be picking up in the economy, but has not convincingly affected inflation yet, Atlanta Fed President Dennis Lockhart said on Monday.

In speaking with local business contacts there is “a lot of confirmation now that wage pressures have broadened. So clearly we are seeing what would be interpreted as a tightening of the labor market. What is puzzling is we are not seeing it translate to inflation.”

Reporting by Howard Schneider

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