Loading…
Tuesday, September 30, 2014
Current Weather
Loading Current Weather....
HomeNewsNation
Published: Wednesday, 11/9/2011

Philadelphia Fed chief seeks 2% inflation target

BLADE STAFF AND NEWS SERVICES

PHILADELPHIA — Charles Plosser, president of the Federal Reserve Bank of Philadelphia, said Tuesday the central bank should adopt a 2 percent long-term inflation target to increase policy makers’ accountability and improve economic stability.

“Being explicit about our inflation objective would help anchor expectations and reduce uncertainty about future policy steps,” he said.

Policy makers last week restated their commitment to keep the target federal funds rate near zero through at least mid-2013 as long as unemployment remains high and the inflation outlook remains “subdued.”



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories