Fed's Pianalto: cenbank must try to help recovery
AKRON, Ohio Oct 12 (Reuters) - Cleveland Federal Reserve President Sandra Pianalto said the U.S. central bank must do what it can to help a struggling economic recovery, even if monetary policy is not a panacea.
"Of course monetary policy alone cannot solve all of the ills of our economy," Pianalto told an event at the University of Akron in Ohio on Wednesday.
"Nevertheless I do believe that the Federal Reserve has to do what it can to promote a stronger economic recovery," she said, adding that she backs the Fed's policies to date for helping the economy.
"I'm fully supportive of the actions the (Fed) has taken and feel that we are running the appropriate monetary policy based on the outlook that we have for both growth and employment -- and inflation.