Fed Reserve Bank of St Louis Review, May/Jun 2004

In the latest edition of the St Louis Fed's Review for May-June 2004 Fed economists Kevin Kliesen and Frank Schmid examine how announced changes in monetary policy actions and macroeconomic data releases affect the average rate of inflation that economic agents expect to prevail during the 10-year period following the surprise. The issue also contains an article "How Costly is Sustained Low Inflation for the U.S. Economy?"

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