WASHINGTON - Americans should get used to "uncomfortable" postage rate increases in coming years as the U.S.
Postal Service seeks to become self-sufficient, Postmaster General Louis DeJoy said Thursday.The Postal Service Board of Governors sets postage rates, but DeJoy said he'll advocate for raising prices until "we have accomplished our objective of projecting a trajectory that shows us being self-sustaining.""I believe we have been severely damaged by at least 10 years of a defective pricing model which cannot be satisfied by one or two annual price increases, especially in this inflationary environment," he added.RELATED: US inflation report: Consumer prices jumped 8.5% in past year, highest since 1981DeJoy made the remarks at a Board of Governors meeting in which the Postal Service reported a loss of about $1.7 billion for the latest quarter.A sweeping overhaul meant to shore up the Postal Service's financial future will be reflected in the next quarter's results.