Fed's Moskow sees job market policy challenge

Chicago Fed president Michael Moskow said on Tuesday 1 March that the US economy still has excess labour and production capacity and that oil price rises have yet to spill into underlying inflation.

"My own judgment is there still are excess resources in the economy, both certainly on the labour market side and in facilities, plants and equipment," Moskow told reporters after a speech to a National Association of State Workforce Agencies forum in Washington.

"So I personally think there still i