Cautious Fed official wants evidence of medium-term price rise
A Federal Reserve policymaker who has grown cautious in the face of weak inflation readings said on Thursday he would need to see evidence that prices will rise to a 2-percent target in the medium term in order to support another interest-rate hike.
"I don`t need to see that we`re going to meet that target in the near-term," Dallas Fed President Robert Kaplan told reporters after a speech in Lubbock, Texas. "I just want to see evidence, or belief, that we`re going to meet that target in the medium term."
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.