Price target will settle expectations: Bernanke

The Federal Reserve's ushering in of an implicit inflation target should lead to more stable price expectations, the head of the central bank has said.

Ben Bernanke, the Fed chairman, told senators on Tuesday that the Federal Open Market Committee's (FOMC) recent extension of its projections to cover "longer-run" inflation - which in effect outlines American rate-setters' target range - would soothe market sentiment on price stability.

"Increased clarity about the FOMC's views regarding longer

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