William Poole discusses inflation targeting. It's fairly long and is here. The key point is that he strongly supports an explicit inflation target. He also states his hawkish stance on inflation and says that properly measured, he favors zero inflation as a target, a statement that translates into a .5 to 1.5 range for measured long-term inflation. If you are interested in this topic, this is a fairly thorough treatment of the subject.
Friday, February 17, 2006
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