Fed has moved ‘considerably closer’ to flexible inflation target, paper finds
The Federal Reserve has moved "considerably closer" to a flexible inflation targeting monetary policy framework through a series of steps implemented in the past decade, according to a working paper published by the Fed this week.
In The Federal Reserve's Framework for Monetary Policy – Recent Changes and New Questions, William English, David Lopez-Salido and Robert Tetlow say the Fed has implemented a range of measures to "improve public understanding of its policy objectives".
In 2005, the Fed
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