Fed will shun Mishkin's call for explicit goal

Despite Frederic Mishkin's rigorous advocation, much stands in the way of the departing governor's wish for the Fed to adopt an explicit inflation goal. But it may not need to, writes Claire Jones, the editor of Central Bank News.

In his swansong speech, Frederic Mishkin, who stood down on Monday as a governor of the Federal Reserve to return to Columbia University, delivered his manifesto for an explicit inflation goal.

It is a call that is likely to have delighted many of the academics in the

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