Fed’s Musalem Says Inflation Still a Bigger Problem Than Jobs

Federal Reserve Bank of St. Louis President Alberto Musalem said he supported last week’s decision by policymakers to leave interest rates steady, adding the US central bank is still missing more on the inflation side of its mandate.

“The economy is such that we are missing on our inflation target,” Musalem said Friday during an event in Itta Bena, Mississippi. “We are not missing on our employment mandate. The labor market seems to be around full employment.”