“There’s no intention of changing the target” and “I don’t
see a reason to do it,” Mester said in a video presentation. The
Fed’s target is 2% and some have said the central bank should
raise it in part to ensure monetary policy’s efforts to lower
price pressures will not drive up unemployment by a large
margin.
(Reporting by Michael S. Derby)
By Michael S. Derby
Feb 16 (Reuters) - Federal Reserve Bank of Cleveland
President Loretta Mester said Thursday the U.S. central bank,
faced with high levels of inflation, should not raise its
inflation target to a higher setting.
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