Broaddus says Fed patience is right

Federal Reserve Bank of Richmond president Alfred Broaddus said in an interview that clear evidence of tighter labour markets and higher core inflation will be needed before the Fed can raise interest rates.

"The recent behaviour of inflation ... and the surplus of labor are two factors that I think about when I think about policy and, as of right now, I think they justify the patience that we are still signalling," Richmond Federal Reserve Bank President Alfred Broaddus told Reuters in an

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