By Reuters Staff 3 Min Read WASHINGTON (Reuters) - If an expected jump in inflation this year does not reverse going into 2022 the Fed “will have to take that into account” in setting policy Federal Reserve vice chair Richard Clarida said Friday. FILE PHOTO: Federal Reserve Vice Chair Richard Clarida reacts as he holds his phone during the three-day "Challenges for Monetary Policy" conference in Jackson Hole, Wyoming, U.S., August 23, 2019. REUTERS/Jonathan Crosby/File Photo Strong demand, possible supply bottlenecks, and a rebound from weak inflation a year ago are expected to cause prices to surge in coming months above the Fed’s 2% inflation target.