Thousands of Canadian auto industry workers have been furloughed with more temporary layoffs coming as negotiations on a new labor contract between General Motors and the...Autosread more
U.S. officials, including Secretary of State Mike Pompeo, have accused Iran of orchestrating devastating strikes on Saudi oil installations over the weekend.Politicsread more
Rosengren was one of two central bank officials to vote against Wednesday's quarter-point rate reduction, and explained in a speech to the Stern School of Business at New York...Economyread more
The process will involve three 14-day operations involving $30 billion as well as continued overnight operations of at least $75 billion each.The Fedread more
"The president is right to make this the center point of the rising and sustained trade conflict," says Sen. Chris Coons.Politicsread more
Morrison and Trump were expected to discuss a range of issues during a bilateral meeting Friday morning, including the ongoing U.S.-China trade war and the rising tensions in...Politicsread more
Some businesses, mostly small- to mid-sized companies, are providing workers with paid time off to join the Global Climate Strike, while others are shutting down operations...Weather & Natural Disastersread more
FedEx's earnings disappointment and outlook warning earlier this week were a "wake-up call," says the "Mad Money" host.Investingread more
President Trump's criticism of Fed Chairman Jerome Powell has been more public because of Twitter, says economist Alan Blinder.Economyread more
A bipartisan group of senators is urging acting Food and Drug Administration Commissioner Ned Sharpless to immediately pull most e-cigarettes off the market, including market...Health and Scienceread more
More than 400 Chinese products will be temporarily exempted from tariffs that President Donald Trump's administration imposed last year.China Economyread more
Inflation has been running persistently below the 2 percent target the central bank likes to see as indicative of healthy economic growth. Some officials have expressed caution about the Fed's collective desire to keep raising rates in that climate.
However, George said she feels confident enough in where things stand to keep advocating for tighter policy.
"I think we should continue with the gradual rate path," she told CNBC in a live interview from the annual symposium in Jackson Hole, Wyoming, that the Kansas City Fed hosts. "While we haven't hit 2 percent, I'm reminded that 2 percent is a target over the long term, and in the context of a growing economy, of jobs being added, I don't think it's an issue that we should be particularly concerned about unless we see something change."
The Fed began hiking rates in December 2015 after slashing its benchmark funds rate to near-zero during the financial crisis and keeping it there for seven years. Since that increase, the Fed has hiked three more times, with the current target now 1 to 1.25 percent.
Inflation, though, has presented a quandary. The core Consumer Price Index, which measures a basket of goods excluding food and energy, rose 1.7 percent annualized in July. The Fed's preferred measure, the personal consumption expenditures index, most recently showed a 1.5 percent gain.
However, George said she was not bothered by the low readings.
"Inflation is running close enough to 2 percent in my view that it allows a gradual approach," she said.
George has been one of the more hawkish Fed members, occasionally voting against her colleagues when it comes to determining the path of rates. Traders in the funds market do not expect the Fed to approve more hikes this year, even though officials continue to insist that another move is in play.
For her part, George has been a believer that the economy is strong enough to handle rate hikes, though her current forecast remains for just a 2 percent GDP gain this year.
"I'm delighted that the unemployment rate is low and more people have jobs," she said. "But I do look carefully at how you ensure that you have sustained growth in the long run, and an overheating labor market can be an issue for you in the long term."
The current unemployment rate is 4.3 percent, the lowest in 16 years.