Ed Gramlich: No formal US inflation target needed

Federal Reserve Governor Edward Gramlich said on Wednesday 1 October that the US could benefit from an agreed target range for prices, but an explicit inflation target was not needed as it could further tie down the FOMC. Speaking in Toronto he said some research cast doubt on how effectively such regimes control the rate of price movements.

Source: Reuters

The United States does not need a formal inflation target to guide policymakers in setting monetary policy, but might benefit if accepted r

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