October 13, 2017 / 4:54 PM / 2 years ago

Fed's Kaplan backs periodic review of U.S. inflation target

FILE PHOTO: 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/File Photo

BOSTON (Reuters) - Dallas Federal Reserve Bank President Robert Kaplan said on Friday that he thinks the U.S. Federal Reserve should periodically review its inflation target and other frameworks.

“Other countries have strategic reviews that they do every number of years to re-look at their targets... and I actually think that might be a healthy thing for the Federal Reserve to do,” Kaplan said at an event in Boston.

He added that while he and his colleagues at the Fed did have discussions “a more formalized review of these targets and frameworks every number of years and to be seen more formally to have that might be an advisable thing.”

The central bank’s preferred measure of inflation has been retreating from the Fed’s 2 percent target rate for the past few months, and policymakers remain divided on if it will rebound.

Reporting by Ann Saphir; Writing by Lindsay Dunsmuir; Editing by Chizu Nomiyama

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