Trial now
OPTIONS

Expiries for Apr13 NY cut 1000ET (Source DTCC)

GERMAN DATA

ZEW Expectations Sentiment Fell in April

MNI BRIEF: Fed's Bostic Willing to Let Economy Run Hot

MNI (Ottawa)
(MNI)

Inflation can rise above target for "quite a while" after a long time below the Fed's goal, Atlanta Fed President says.

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

Atlanta Fed President Raphael Bostic said Friday the economy is a long way from full employment and he's willing to let inflation move above 2% for quite a while to meet the central bank's dual mandate.

"I'll be comfortable letting the economy run hot and actually letting inflation get above 2% for some time," he said during a webinar. Inflation has been below target for a long time so it can run above target "for quite a while" as long as it's not "spiraling away," he said.

He pointed to high long-run unemployment as another reason for patience and said policy makers are "ready and able" to support the rebound for as long as needed.