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The Fed: Fed’s Quarles says he could live with an inflation rate that is below the 2% target

Bloomberg News/Landov
Fed Vice Chairman for Supervision Randal Quarles, right, speaks, as Fed Chairman Jerome Powell listens at an April Fed board meeting.

If inflation runs near but doesn’t meet the Federal Reserve inflation target, the central bank should be satisfied, a top official of the U.S. institution said Tuesday.

“I don’t share the concern, that some have, that if we’re at 1.8% inflation for a significant period of time, that this is a problem that needs to be fixed. From my point of view, 1.8 is 2,” Fed Vice Chairman for Supervision Randal Quarles said, in a talk at Yale University.

His view is a more hawkish viewpoint relative to some of his colleagues at the U.S.

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