Quarles Says Fed Very Committed to Pushing Inflation Above 2%

Federal Reserve Vice Chair for Supervision Randal Quarles says that investors should take the U.S. central bank at its word that it will deliver an overshoot of its 2% inflation target.

“I think it is very credible to expect the committee to be comfortable with inflation somewhat over our 2% target,” he said Tuesday after giving a speech on financial regulations to the Peterson Institute for International Economics. “Over time we will look to average, and I think that is a very credible commitment from the committee and I am very supportive of it.”