Fed's new monetary policy strategy is "flexible inflation-targeting", says Bullard

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James Bullard, president of the Federal Reserve Bank of St Louis, on February 6 described the introduction of an explicit inflation target in the US as a move towards a "flexible inflation-targeting" framework.

At the Union League Club of Chicago Breakfast in Chicago, Illinois, Bullard said the Federal Open Market Committee (FOMC) decision to name an explicit, numerical inflation target for the US of 2%, as measured by the personal consumption expenditures price index, at its January meeting was

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