Walsh: Five years of high inflation have undermined the credibility of the 2% target, and inflation cannot be resolved within nine weeks.

According to BlockBeats, on July 30, Federal Reserve Chairman Waller stated at a press conference that the high inflation over the past five years has left a lasting impression on the market, namely that the Federal Reserve’s implicit inflation target is above 2%.

Waller said that the inflation issue “cannot be resolved within nine weeks” and pointed out that both the nominal yields and real yields on the current U.S. Treasury yield curve have risen significantly.