Fischer: Fed ‘Close to Our Targets’ on Rate Policy

Job growth and inflation measures are ‘close’ to the Federal Reserve’s targets for a path to normal monetary policy, Fed Vice Chairman Stanley Fischer said at an event in Colorado on Sunday. He noted that key metrics on employment and inflation have remained resilient in the face of overseas economic and political turmoil, turbulence in financial markets and the sustained decline in oil and gas prices.

“I believe it is a remarkable, and perhaps underappreciated, achievement that the economy has returned to near-full employment in a relatively short time after the Great Recession, given the historical experience following a financial crisis,” Fischer said.