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Fischer says Fed 'very close' to goals for U.S. jobs, inflation
October 17, 2016 / 5:26 PM / a year ago

Fischer says Fed 'very close' to goals for U.S. jobs, inflation

Federal Reserve Vice Chairman Stanley Fischer attends a televised interview during the Federal Reserve Bank of Kansas City's annual Jackson Hole Economic Policy Symposium in Jackson Hole, Wyoming August 28, 2015. REUTERS/Jonathan Crosby

NEW YORK (Reuters) - The Federal Reserve is very close to its U.S. employment and inflation targets, the Fed’s vice chair said on Monday, adding he is therefore “not enthusiastic” about raising the price-level target in an attempt to spur economic growth.

“We are very close to our targets” of full employment and 2-percent inflation, said Stanley Fischer. “So we’re not in deep trouble with monetary policy at the moment,” he responded when asked about the concept of raising the Fed’s inflation target.

Reporting by Jonathan Spicer and Richard Leong; Editing by Chizu Nomiyama

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