Dallas's McTeer on inflation targets

Dallas Fed president Bob McTeer said Thursday 19 February that inflation targets were a marketing tool not needed by the Fed, and opposed lobbying to float China's currency.

In a question-and-answer session after a speech to the Texas Council on Economic Education in League City, Texas, McTeer said, "Outsourcing, per se, is not really a bad thing."

He said outsourcing of jobs is "an education problem, not an economic problem." But outsourcing also is becoming a political problem, he said.

In the