Fed's Bernanke on the benefits of price stability

In the speech 'The benefits of price stability' given on 24 February Ben Bernanke of the Federal Reserve said the Fed needs to keep inflation low to meet its other mandated goals of high employment and moderate long-term interest rates.

"Stable prices are desirable in themselves," Bernanke told a Princeton University crowd. "But stable prices are also a prerequisite to the achievement of the Federal Reserve's other mandated objectives, high employment and moderate long-term interest rates."

"In

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