Former Irish governor calls for higher inflation targets
Concerns about consequences of raising targets “overblown”, Honohan says
Central banks in developed economies should raise their inflation targets above their current levels, according to Patrick Honohan, the former governor of the Central Bank of Ireland, and three other experts on monetary policy.
Honohan is joined in his call by Laurence Ball of Johns Hopkins University; Joseph Gagnon, former associate director of the US Federal Reserve; and Signe Krogstrup, who served as associate director and deputy head of monetary policy analysis at the Swiss National Bank.
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