Fed's Kroszner on changing dynamics of inflation

In the speech 'The changing dynamics of inflation' given on 12 March Randall Kroszner of the Federal Reserve said the Federal Reserve cannot be complacent about inflation and would act if currently benign inflation expectations change.

The Fed and the central banks of many other countries have been successful in holding long-run inflation expectations down, which has in turn helped keep inflation down, Kroszner said in remarks to the National Association for Business Economics.

"However, bad luck

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