Inflation revisions could alter observed policy target: Philly Fed paper
A Philadelphia Federal Reserve paper published on Tuesday says revisions in inflation data might alter central banks' records of inflation target success.
Calvin Price, the paper's author, uses two measures for inflation in the US – the consumer price index and the personal consumption expenditures price index – to examine how revisions in historical inflation data has affected the relationship between inflation and a hypothetical target.
Price says the observed relationship between inflation
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