Fed's Lockhart: no upward pressure on wages

Reuters

ATLANTA (Reuters) - Atlanta Federal Reserve Bank President Dennis Lockhart said on Wednesday that he does not see upward pressure on inflation despite rises in energy and food costs.

"Wages continue to be quite subdued, wage growth is quite subdued," he said in response to questions after a speech.

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"You get inflation broadly speaking when you add to the mix the chasing of wages to underlying price movements. That does not exist today," he added.

(Reporting by Matt Bigg, writing by Mark Felsenthal)