KELLEY SAYS FED TACKLING INFLATION

KELLEY SAYS FED TACKLING INFLATION

The Federal Reserve is not complacent about the current inflation pace of 3 percent to 4 percent, Fed Governor Edward Kelley told a House banking subcommittee.

He said the central bank's ultimate goal is to cut the inflation rate to zero, and he agreed with the subcommittee's recent monetary policy report that reducing inflation should be the Fed's top priority.