Inflation Targeting is the Best Way Forward for the Fed
Published in the Financial Times on July 10, 2006Inflation Targeting is the Best Way Forward for the Fed
July 10, 2006
Last week's announcement that Frederic Mishkin will join the Federal Reserve Board chaired by Ben Bernanke marks a turning point in US monetary policy. We can expect to see improvements in both the internal decision-making and external communication of the Federal Open Market Committee. The result will, I believe, be increased clarity and improved performance.