Inflation-targeting central banks should be dissuaded from dual mandate, says St Louis Fed paper


Inflation-targeting central banks should be dissuaded from having a dual mandate as policy actions that focus on growth and unemployment endangers the effectiveness of the framework to perform its goal, according to a St Louis Federal Reserve paper published on January 27.

Daniel Thornton, the paper's author, notes that while the Federal Reserve is not formally inflation targeting, it is commonly believed to be an implicit inflation targeter. Thorton says the increasing belief in the need for

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