Practical problems and obstacles to inflation targeting.

From: Federal Reserve Bank of St. Louis Review | Date: July 1, 2004| Author: Meyer, Laurence | Copyright information

The number of conferences, papers, and speeches on inflation targeting suggests a growing interest in exploring whether and in what way the Federal Open Market Committee (FOMC) should consider adopting an explicit numerical objective for inflation. Because the devil is often in the details, it is important to go beyond the general interest in this direction and to explore obstacles to moving in the direction and, at the same time, to begin to think about some practical problems that...

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