Should the Fed adopt IT?

Adopting IT (inflation targeting) is the key policy debate among the US Federal Reserve. The debate has been set alight by Ben Bernanke, a keen inflation targeter, joining the Board of Governors. To understand this key debate, CentralBankNet brings a summary of a recent conference on the issue at the St Louis Fed.

Here Jeremy M. Piger and Daniel L. Thornton precis the debate between central banking heavyweights, Bernanke, fellow governor Don Kohn and the ECB's Otmar Issing. To read their a