Fed Official Favors Inflation Target Range of 1.5% to 2.5%

A Federal Reserve official stated he is not interested in symbolic rate hikes and personally favors an inflation target range of 1.5% to 2.5% rather than a single 2% point target. The remarks outline a preference for a wider band around the current 2% goal. The official did not indicate any immediate change to existing policy.

The Federal Reserve has maintained a 2% inflation target since 2012. A range would allow more flexibility when inflation moves above or below that level. The comments come as the central bank continues to assess price pressures and labor market conditions.