News: Fed can be patient in raising rates, Kashkari says

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    MARQUETTE, Mich., July 12 (Reuters) - The Federal Reserve is coming up short on both its employment and inflation goals, and can be patient in raising interest rates as it seeks to allow more people who want jobs or more working hours to get them, a top Fed official said on Tuesday.

    "We should take our time when we go ahead and start raising rates again," Minneapolis Fed President Neel Kashkari said at a Town Hall in Marquette, Michigan. "There's not a huge urgency to raise rates because inflation is coming up low."(Reuters Messaging: [email protected]

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