Corrigan Says He’s ‘Uncomfortable’ With Fed’s Inflation Effort

E. Gerald Corrigan, former Federal Reserve Bank of New York president, said he’s concerned that the central bank’s effort to boost inflation by expanding stimulus risks causing price increases out of the Fed’s control.

“Even in the face of substantial margins of underutilization of human and capital resources, efforts to achieve an upward nudge in today’s very low inflation rate make me somewhat uncomfortable,” Corrigan, chairman of Goldman Sachs Group Inc.’s bank subsidiary, said in prepared remarks at a Fed conference on Jekyll Island, Georgia.