Federal Reserve Chairman Ben Bernanke said inflation was on track to ease later this year and next. Bernanke made the comments Friday at an economic conference before leading economists and policymakers in Jackson Hole, Wyoming.
Decreasing commodity prices, increased stability of the dollar, and slower growth were cited reasons for the improved outlook.
"If not reversed, these developments, together with a pace of growth that is likely to fall short of potential for a time, should lead inflation to moderate later this year and next year," Bernanke said.
Continue reading Fed chief Bernanke forecasts moderate inflation