Federal Reserve Governor Philip Jefferson said progress on inflation this year has been “mixed” with much of the deceleration occurring in food and energy prices and not enough progress in other categories. “Outside of used motor vehicle prices, which fell unexpectedly in March, disinflation in core goods prices is occurring at a slower pace than expected,” Jefferson said in prepared remarks at Standford University’s Hoover Institution in California. “Supply and demand imbalances in the goods sector seem to be resolving less quickly than expected.” He called progress on core inflation — the rate of price increases ... (full story)