Question-and-answer session continues

  • May need to go bit above 2% to keep inflation anchored
  • expect inflation will drift up over time
  • US close to full employment, inflation a puzzle
  • we have been a bit surprised by inflation this year
  • stable economy means this is good time for fed transition
  • key issue for fed is quality of pics to fill vacancies
  • empty seats on FOMC has no implications for policy