The Federal Reserve’s Inflation “Target”
The Federal Reserve’s stated mandate for monetary operations, as granted by the Federal Reserve Reform Act of 1977, contains maintaining a “price stability” level. Since then, the Fed has tacitly adopted 2% annual inflation as the yardstick for price level. This essay analyzes the history of the Fed’s inflation target setting, gives a critical insight ... Read More
Pages: 6 Words: 1515