St Louis Fed's Poole on understanding the Fed

In the speech 'Understanding the Fed' given on 31 August William Poole of the Federal Reserve Bank of St. Louis said inflation expectations remain "quite well controlled" but any incoming data suggesting otherwise will prompt an appropriate policy response from the Fed.

"If, putting all the information together, it looks like the inflation risks are not receding as we all want them to, then I think you should anticipate ... a policy position that says we're going to have to maintain rates at a

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