NEW YORK (Reuters) – Federal Reserve officials are willing to let inflation hover above 2% to offset periods of low inflation, and will keep pace with changes in prices in addition to the level, said Tuesday on Tuesday. head of the Philadelphia Fed, Patrick Harker.
“It’s not just a number … it’s also the rate of change,” Harker said during a virtual event organized by the Philadelphia CFA Society.
He added that 3% is the “maximum” inflation he would like to see, although he would be more comfortable with a rate of around 2.5%.
“We don’t want out-of-control inflation,” he said.
(Report by Jonnelle Marte, Edited in Spanish by Manuel Farías)