Volcker lambasts higher inflation targets


Paul Volcker, a former chairman of the Federal Reserve and the architect of the eponymous rule which forms part of US President Barack Obama's financial reform proposals, on Monday rubbished the suggestion that inflation targets should be raised to give policymakers room for manoeuvre.

In an interview with Frankfurter Allgemeine Zeitung, a German daily, Volcker said the notion of raising inflation targets was "simply nonsense," pointing to his struggle in the 1980s as Fed chairman at a time when

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