Greenspan rejects idea of inflation targets

US - Choosing a specific inflation target for the Federal Reserve to meet would not help the central bank set interest rates, Alan Greenspan, the Fed chairman, said yesterday, 11 October.

Some analysts, including Laurence H. Meyer, a Fed governor, have advocated setting such targets as a way to restrain inflation expectations and promote open decision making at the Fed.

Mr. Greenspan said that would not work because it is becoming ever more difficult to measure inflation in an age of rapid impr