WASHINGTON, Feb 27 (Reuters) - U.S. Federal Reserve governor
Philip Jefferson said he had "no illusion" that inflation would
quickly fall back to target and was committed to keeping
restrictive monetary policy in place for as long as needed to
make sure price stability is restored.
"I'm under no illusion that it is going to be easy to get
the inflation rate back down to 2%," Jefferson said, noting that
the personal consumption expenditures price index remained
"elevated" after jumping unexpectedly in January. "I am
committed to doing what it takes to bring the inflation rate
down."
(Reporting by Howard Schneider)
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