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Says it makes sense to raise interest rates gradually, sooner than later
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Says US economy is in good shape, headed in right direction
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Sees unemployment rate dropping to 4.5 pct over coming year
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Sees inflation rising to 2 pct in next year or two
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Fed’s low inflation target is not well suited to era of persistently low interest rates
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Fed should consider raising inflation target, switching to nominal GDP-targeting
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Says now is the time for Fed to actively study new policy options
*via forexlive
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