Fed's Santomero stresses inflation vigilance

In an interview with USA Today, Philadelphia Fed President Anthony Santomero said the US economy was "in good shape and growing at a good pace, not too fast so as to create all these imbalances and pressure on prices, but clearly moving slightly above trend."

"We have to be vigilant about inflation and in so doing, allow the economy to go through an extended expansion without finding ourselves trying to react to higher inflation," he said, adding that inflation was harder to stop than to preve