Fed Reserve Bank of St Louis Review, May/Jun 2007

The latest edition of the St Louis Fed's Review for May/June 2007 includes an article which uses extensive archival material from several countries, to bring together scattered information about Milton Friedman's views and predictions regarding U.S. monetary policy developments after 1960.

"The lower and upper bounds of the Federal Open Market Committee's long-run inflation objective" It is widely acknowledged that the Fed can control the average inflation rate over a period of time reasonably

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