Fed's Ferguson on good policy practice

In a speech on 'Safeguarding good policy practice through maintaining flexibility' given on 8 October, Roger Ferguson of the Federal Reserve said he is opposed to the idea of adopting an explicit inflation target as it could limit the ability of the Fed to respond to events that threaten the stability of the financial system.

"I harbour significant reservations about this approach regarding both its practical implementation...and its demonstrated effectiveness," Ferguson said in remarks prepared

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