Fed's Dudley sees low chance of Fed snuffing out expansion soon

The U.S. Federal Reserve is unlikely to take actions that would "snuff out" the current economic expansion anytime soon because inflation is "simply not a problem," Federal Reserve Bank of New York President William Dudley said Tuesday.

Dudley, in a speech to a gathering of the National Retail Federation in New York, said he is optimistic the current expansion will continue even though it is "long in the tooth" by historical standards.