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."

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