The Federal Reserve is close to hitting its targets for full employment and 2 percent inflation, the Fed's No. 2 policymaker said on Sunday in comments that did not address when the U.S. central bank should next raise interest rates.
The Fed has been suggesting it could raise rates in 2016 since it tightened policy in December for the first time in nearly a decade, but investors have doubts the central bank will follow through on that guidance.
Fed Vice Chairman Stanley Fischer gave a generally upbeat assessment of the economy's current strength, saying the job market was close to full strength and still improving.
"We are close to our targets," Fischer said in prepared remarks for a conference in Aspen, Colorado.
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Almost 95 million of us are not in the workforce. What kind of a "target" is that?
And by the way, two percent inflation doubles the cost of everything in a generation (35 years). What kind of a target is THAT?
Clearly, the Federal Reserve System does not work for We The People.