Inflation outlook has worsened since start of year, says Fed governor

THE US inflationary picture has worsened since the start of the year, which could prolong the Federal Reserve’s ongoing fight against rising prices, a top Fed official warned yesterday.

The central bank “may have more work to do,” in its inflation fight if the data “show continued strength in the economy and slower disinflation,” Lisa Cook, a voting member of the Fed’s rate-setting committee, said in prepared remarks to an economic conference in Ohio.