BATON ROUGE: U.S. labor markets may be approaching full employment in certain industries and regions, Atlanta Federal Reserve Bank President Dennis Lockhart said on Tuesday, pointing to skilled trades in places such as Louisiana's oil sector.
The situation has created a patchwork across the country, with many other aspects of the job market still weak and in need of continued loose monetary policy.
Lockhart said that in order to support full employment he was willing to tolerate an overshoot of the Fed's 2 percent inflation target to as high as 2.5 percent.
He also said he felt markets would respond better if the Fed continues reinvesting the proceeds of any maturing bonds until after the point when it has decided to begin increasing interest rates.- Reuters
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