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Fed's Williams sees big costs to boosting inflation
The positive effects of such an effort "would be modest," Williams said after a speech to the California Bankers Association. "The potential costs would be quite significant."
Nobel-Prize winning economist Paul Krugman has advocated pushing inflation up in order to boost the recovery. The Fed targets a 2 percent annual rate of inflation.
(Reporting by Ann Saphir; Editing by Chizu Nomiyama)