NEW YORK (Reuters) - The Federal Reserve is very close to its U.S. employment and inflation targets, the Fed's vice chair said on Monday, adding he is therefore "not enthusiastic" about raising the price-level target in an attempt to spur economic growth.
"We are very close to our targets" of full employment and 2-percent inflation, said Stanley Fischer. "So we're not in deep trouble with monetary policy at the moment," he responded when asked about the concept of raising the Fed's inflation target.
