September 29, 2016 / 9:46 AM / 10 months ago

Fed's Harker says moving slowly but surely towards inflation target

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DUBLIN, Sept 29 (Reuters) - The U.S. Federal Reserve is moving "slowly but surely" towards its 2 percent inflation target and a continued normalisation of monetary policy could boost lagging business investment, Philadelphia Fed President Patrick Harker said on Thursday.

"If you look at the statistics in the US, save inflation and I think we're moving slowly but surely towards our 2 percent target, the one area that has lagged is business investment," Harker told a conference in Dublin.

"A continued normalisation of our monetary policy would be a good thing in terms of possibly bringing back some business investment." (Reporting by Padraic Halpin; Editing by Toby Chopra)

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