Despite gradual economic recovery, inflation doesn’t appear to be a pressing concern now, or in the near future, said a Federal Reserve official Tuesday.
“Am I more worried about inflation being low than high?” said Minneapolis Federal Reserve President Narayana Kocherlakota Tuesday evening. “I’m more worried about inflation being low.” He is currently a voting member of the Federal Open Market Committee, which sets monetary policy.
Mr. Kocherlakota, who spoke at a North Dakota State University town hall forum in Fargo, N.D., said he is concerned about how long it has taken for the economy to recover and said the Fed is well placed to control inflation once it kicks in. “We will raise rates gradually as recovery continues,” he said.