Fed's Gramlich on politics of inflation targeting

In the speech 'The politics of inflation targeting' given on 26 May Edward Gramlich of the Federal Reserve said there was little political support in the United States for adopting a formal inflation target and such a step would yield only modest benefits.

"Given the good inflationary performance of the American economy in the past decade, the question of whether to adopt inflation targeting has never been an all-out do-or-die issue," Gramlich said in remarks to the Euromoney Inflation Conference

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