Enter multiple symbols separated by commas

Fed's Lacker: Low Inflation Is Good for Employment

Central banks should only try to minimize unemployment by keeping inflation at bay, Richmond Federal Reserve President Richard Lacker said on Wednesday.

"The best way of contributing to maximum employment growth is to keep inflation low and stable," Lacker said in answer to audience questions following a speech.

He added that having an explicit inflation target was entirely consistent with the Fed's mandate.

Asked about specific inflation measures, Lacker said he favored the personal consumption expenditures index over consumer prices, pointing to flaws in how the latter is calculated.

Contact U.S. News


    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video