The low rate of U.S. inflation is not a cause for worry, a top Federal Reserve official said on Wednesday.
Calling himself an inflation hawk, Dallas Fed President Richard Fisher told a central Texas audience that he's not personally concerned about the low rate of U.S. inflation.
It was a falling inflation rate, along with a stubbornly high unemployment rate, that prompted the U.S. Fed to decide last month to buy $600 billion of Treasuries to help boost the economy.
Fisher, who opposed the Fed's recent move, said he also did not expect an increase in inflation until the economy got moving again, but said he did see inflationary pressures coming down the pike from commodity demand and wage hike pressure in China.
© 2023 Thomson/Reuters. All rights reserved.