Fed’s Barkin Comfortable With 1.5-2.5% Inflation

President of the Federal Reserve Bank of Richmond, Tom Barkin, said on Thursday that the new policy framework could help boost inflation expectations, noting that the risk of sudden rises in inflation in the future is low, Reuters reported.

“While inflation has run below our 2 percent target, as I said earlier, it is not that far-off target; with rounding, you could even call it on target.”

The Richmond Fed president further added that he is comfortable with an inflation target between 1.5% and 2.5%.