August 17, 2017 / 6:31 PM / 2 years ago

Cautious Fed official wants evidence of medium-term price rise

Dallas Federal Reserve Bank President Robert Kaplan gestures during a news conference after of the True Economic Talks event in Mexico City, Mexico, July 14, 2017. REUTERS/Edgard Garrido

LUBBOCK, Texas (Reuters) - A Federal Reserve policymaker who has grown cautious in the face of weak inflation readings said on Thursday he would need to see evidence that prices will rise to a 2-percent target in the medium term in order to support another interest-rate hike.

“I don’t need to see that we’re going to meet that target in the near-term,” Dallas Fed President Robert Kaplan told reporters after a speech in Lubbock, Texas. “I just want to see evidence, or belief, that we’re going to meet that target in the medium term.”

Reporting by Jonathan Spicer; Editing by Chizu Nomiyama

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