Fed's Pianalto says keeping eye on inflation risks

...much as it had expected, Cleveland Federal Reserve President Sandra Pianalto said on Tuesday.

"We still see risks to the inflation environment," Pianalto said in response to an audience question after delivering a speech to a banking forum in Prague.

Pianalto, who does not have a vote this year on the policy-making Federal Open Market Committee (FOMC), said she personally believed that setting a numerical inflation goal would help improve the central bank's communications.