Fed's Mishkin makes his point on inflation

In one of his strongest advocacies of inflation targeting since joining the Federal Reserve in 2006, Frederic Mishkin argued that countries should adopt a specific point objective for price stability rather than having a target range.

The US is one of only two G7 economies whose central bank has yet to adopt an explicit inflation objective, though it is widely assumed to have an implicit target range, often referred to as a comfort zone, of between 1% and 2%. However, Mishkin, a governor of the

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