Prospects for an inflation-targeting Fed

Beginning with the Reserve Bank of New Zealand Act of 1989, more than twenty central banks have adopted or been assigned inflation targets, and the number is increasing. Economists and journalists ask whether the Federal Reserve should subscribe to what is almost a consensus on the appropriate conduct of monetary policy. Unfortunately or not, because of the unique American political system, it cannot. This is not a cause for concern, however, because experiences across time and countries show

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account