Fed’s Fischer optimistic inflation will rise toward target

Federal Reserve Vice Chairman Stanley Fischer told participants at the Federal Reserve Bank of Kansas City’s annual economic symposium in Jackson Hole, Wyo., that inflation likely will rise to the central bank’s annual target of 2%. “Given the apparent stability of inflation expectations, there is good reason to believe that inflation will move higher as the forces holding inflation down — oil prices and import prices, particularly — dissipate further,” Fischer said.