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Fed's Kashkari says low inflation affords 'luxury' of low rates

Reuters

MINNEAPOLIS (Reuters) - Low inflation allows the Federal Reserve to keep U.S. interest rates lower for longer in order to boost the economy and jobs, a top Federal Reserve official said on Wednesday.

"If we can keep creating jobs while inflation is in check, let's do that," Minneapolis Fed President Neel Kashkari said at a meeting with community activists and members of the black community in Minneapolis who were airing their concerns about low pay and high unemployment. "We can do our best to make the job market as strong as possible."

(Reporting by Kristoffer Tigue; Writing by Ann Saphir in San Francisco; editing by Diane Craft)

 

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