Richmond Fed's Broaddus says inflation target good

US - Federal Reserve Bank of Richmond President Alfred Broaddus said on Friday 12 October the Fed should have an explicit long-term inflation objective to further boost the U.S. central bank's credibility.

In a speech at the St. Louis Fed's annual economic policy conference, Broaddus also said using an explicit number for an inflation objective would make the central bank's goals even more transparent.

Broaddus' view contrasted with opinions Fed Chairman Alan Greenspan had aired at the same con