Fed officials wary of recession risk if they fall behind the curve

US central bankers told community protesters they needed to tighten policy when inflation accelerated, lest they risk another recession.

Eight regional Fed presidents and two governors defended that stance in a meeting with the Campaign for Popular Democracy's Fed Up Campaign, a national coalition of community groups that want the Fed to continue its stimulus program, Market News International reported.

The campaigners were concerned about the still-high rate of unemployment for blacks, Latinos and other minority groups.

"I'm not worried about inflation coming around the corner. I'm worried that it takes a couple years for the monetary policies we take today to have their full effect on the economy," said San Francisco Fed President John Williams.

"If we do wait too long, this economy will create imbalances or overheat ... and when we react to that that often leads to a recession or some other bad outcome."

In their remarks the central bankers reportedly focused on their commitment to maximising sustainable employment and price stability.