St Louis Fed's Poole - Must guard for inflation

US - In a speech on productivity at a University of Missouri-sponsored dinner, Poole said that for the U.S. economy to enjoy the higher living standards and faster trend rate of economic growth offered by increases in productivity - or worker output per hour - price rises must be kept in check.

"The strength and duration of the current economic expansion will ultimately depend on the performance of the inflation rate," said Poole, who is not a voting member of the Federal Open Market Committee