Mishkin sees benefits in inflation target range

According to this article by Reuters, published Wednesday 2 August, a new study by incoming Federal Reserve governor Frederic Mishkin says inflation target ranges can help central banks sidestep political pressure to let prices rise and achieve low-inflation results similar to less-practical methods.

The paper, co-authored with City University of New York professor Niklas Westelius, examined the usefulness of target ranges to avoid what economists call the "time inconsistency problem" - the in