Fed's Bostic open to inflation target eventually being a range

By Michael S. Derby

NEW YORK, Sept 23 (Reuters) - Federal Reserve Bank of Atlanta President Raphael Bostic said Tuesday that at some point down the road he could support moving the central bank’s inflation target from 2% to a range.

Bostic, speaking during a live taping of the Macro Musings podcast, said he could see a “narrow” range for the target that would stand between 1.75% and 2.25%, noting “sometimes there's this illusion of precision that, you know, we can move in place into the third decimal place and that kind of stuff. I don't really think that's real.”