Fed's Moskow urges vigilance on inflation

Chicago Fed President Michael Moskow said in an opinion piece in Tuesday's Wall Street Journal the Federal Reserve must continue to be vigilant in monitoring inflationary pressures.

"Over the past 25 years, inflation has come down from double-digit rates to a pace consistent with effective price stability,'' Moskow wrote in the op-ed piece. "This is an important achievement.''

Moskow said "of course, we must continue to be vigilant in monitoring developments that pose a risk to this accomplish