February 10, 2020 / 6:50 PM / 9 days ago

Fed's Daly: Inflation is 'far better' a bit above target than below

Feb 10 (Reuters) - A top U.S. central banker on Monday called for using new tools to push up stubbornly low inflation as an aging population slows economic growth worldwide and globalization and other trends keep a lid on prices.

“We need to embrace the mindset that inflation a bit above target is far better than inflation a bit below target in today’s economic environment,” San Francisco Federal Reserve Bank President Mary Daly said on Monday in remarks prepared for delivery in Dublin, Ireland. (Reporting by Ann Saphir; Editing by Cynthia Osterman)

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