Fed nominee Goodfriend: Current Fed policy “more or less” on right course

WASHINGTON (Reuters) – Federal Reserve Board nominee Marvin Goodfriend said on Tuesday he felt current policy was “more or less” correct and should allow the central bank to hit its inflation target in a year or so.

Goodfriend, peppered by questions from Senate Banking Committee Democrats about his earlier warnings that low interest rates risked a breakout of inflation, said that he now feels the Fed “is more or less on the right path going forward….We should get to 2 percent (inflation) in a year or so.”

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