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Inflation a 'two-sided threat', Pianalto says on last day at Fed
May 30, 2014 / 1:01 PM / 3 years ago

Inflation a 'two-sided threat', Pianalto says on last day at Fed

CLEVELAND (Reuters) - Inflation is a “two-sided threat” and the U.S. Federal Reserve must prevent it from falling too far below its 2-percent target, Sandra Pianalto said on Friday, her last day on the job as president of the Cleveland Fed.

Pianalto, who will be replaced by Loretta Mester after more than 10 years as a Fed policymaker, said she has been focused on “persistently low inflation” since the 2007-2009 financial crisis. “Price stability reins,” she said in a farewell speech at the Cleveland Fed.

Reporting by Jonathan Spicer Editing by W Simon

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