Fed's Tarullo says no rate hikes needed until inflation is more solid

Federal Reserve Governor Daniel Tarullo on Wednesday said there is no need to raise U.S. interest rates until there is convincing evidence inflation is moving towards the Fed's target on a sustained basis. Tarullo, who as a governor has a vote at every Fed policy meeting, said the cautious approach was particularly warranted as the world digests the impact of Britain's vote to leave the European Union. "I want to be more convinced that the underlying rate of inflation is around 2 percent," Tarul