IMF report on US inflation dynamics
The latest issue of the IMF survey has a short article on what drives inflation dynamics in the US.
What has caused the secular decline in inflation, and what is implied for the future direction of monetary policy? Despite the absence of satisfactory proxies for monetary policy credibility, the long-run decline in inflation appears to be largely structural and, as such, could reflect improved monetary policy credibility in the United States. The results also suggest that globalisation factors
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