Comment: Yellen's 'long-run' inflation target

San Francisco Fed president, Janet Yellen, who has emerged as one of Ben Bernanke's strongest allies in the inflation targeting debate at the Fed, provided further insights into what she regards as the optimal design of such a framework in a speech on Monday 13 March. Her preference for a "long-run" target, if ever implemented, could prove problematic.

COMMENT BY CENTRALBANKNEWS

In a speech entitled "Enhancing Fed Credibility", Yellen said "other central banks have gone further than the Fed" in

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