Kocherlakota wants Fed to mimic Bank of Canada communication
Minneapolis Fed president calls for ‘symmetric’ inflation target and two-year horizon for achieving it
The Federal Reserve's Open Market Committee (FOMC) should adopt a "symmetric" inflation target and seek to achieve that target within a two-year horizon, Federal Reserve Bank of Minneapolis president Narayana Kocherlakota argued in a speech on November 18.
"The time is right to consider sharpening the FOMC's statement of its objectives," Kocherlakota said. He pointed to the Bank of Canada (BoC) as a role model. "[The BoC's] language about symmetry is pretty clear, at least as central banking
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