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Fed's Mishkin: Strong Fed Policy Provides Anchor For Low Inflation

Federal Reserve Governor Frederic Mishkin said the Fed has effectively anchored U.S. inflation by taking policy actions that have kept price rises low and stable.

"In recent years, the Federal Reserve has been quite successful in maintaining a nominal anchor," Mishkin said in remarks prepared for an address at Bridgewater College.

"Not only has the inflation rate remained within a reasonably narrow range, but inflation expectations, as measured by the spreads between inflation-indexed and non-inflation-indexed Treasury securities and by surveys of professional forecaster and the general public, have also been well anchored," he said.