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Tuesday, November 21, 2006

Fed Remains Undecided about Explicit Inflation Targeting

John Berry says the Fed remains undecided on the issue of explicit inflation targets:

Fed Far From Inflation-Target Policy, by John M. Berry, Bloomberg: After much study and discussion, Federal Reserve officials are far from adopting inflation targeting as part of the monetary policymaking process. And even though Fed Chairman Ben S. Bernanke favors having some sort of explicit target, the outcome of the comprehensive review of the concept he set in motion remains unclear.

A substantial portion of the Oct. 24-25 meeting of the Federal Open Market Committee was devoted to communications issues and discussion of ''the advantages and disadvantages of quantifying an inflation objective,'' minutes of the meeting ... said. ... The officials will pick up where they left off at the committee's next two-day meeting in late January. ...

    Posted by on Tuesday, November 21, 2006 at 12:06 AM in Economics, Inflation, Monetary Policy | Permalink  TrackBack (0)  Comments (2)

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