Chicago's Charles Evans, who doesn't vote this year, said he doesn't "see the need" to remove "strong accommodation" until the economy expands at a 4 percent rate for some years.
"I think we're going to need more of this," Evans said, also speaking in Beverly Hills.
The Fed hasn't done enough to describe its tolerance for inflation, and it should be willing to let inflation rise to 3 percent as its 2 percent target is "not a ceiling," Evans said. "We do allow the possibility" that inflation will top 2 percent, Evans said. "We want a vibrant economy."
Lockhart, who spoke on the same panel as Evans, disagreed with allowing inflation to rise that high. Prices accelerating at a 3 percent rate or faster make him "pretty nervous," Lockhart said.