Philadelphia Fed president and FOMC voter Paulson said the Fed's dual mandate
guides policy and restoring inf to the 2% target after more than five years
above target is essential. She supported last week's decision to hold rates
steady, called recent inf data encouraging but only a first step, and said the
Fed will gather more information to assess underlying inf and the effects of
supply shocks such as energy and tariffs while remaining open-minded on the
policy outlook.
