Moskow noted that core inflation is still running above the 1 percent to 2 percent range that some policy-makers, including himself, see as an informal comfort zone.
"I'd like to see inflation rates running lower at this point and more toward the center of that zone," he said.
This was brought to you by the guy who has been saying for the last 6-9 months the Fed isn't going to lower rates anytime soon.
1 comment:
Note that the "comfort zone" has not a very comfortable zone for employment, based on labor markets this slack, this many years into a recovery.
2%-3% would be a much more reasonable comfort zone, especially if we have somewhere just short of 1% imported inflation from the dollar's depreciation.
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