SF Fed's Yellen on 2006: A year of transition

In the speech '2006: A year of transition at the Federal Reserve' given on 19 January Janet Yellen of the Federal Reserve Bank of San Francisco said a quantified inflation target would help the Federal Reserve meet policy challenges and its adoption should be a long-run goal.

A rate between 1 and 2 percent on the core personal consumption expenditures (PCE) price index would be "an appropriate price stability objective," Yellen said in her remarks at a discussion with members of the Los Angeles

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