Christina Romer, an academic and former chair to President Obama's Council of Economic Advisers, has advocated the use of price-level targets by the Federal Reserve.

In an interview with the Washington Post, an American daily, on Thursday, Romer said the central bank could better manage future expectations of the federal funds rate by communicating clearly how long it intended to keep rates on hold, or more radically, by adopting price-level targets. "They could go to a price-level target, which