Fed should target inflation range – Boston president

Eric Rosengren

The Federal Reserve should adopt an inflation targeting range to provide the central bank with more monetary policy space during a recession, the president of the Boston Fed, Eric Rosengren, said in a speech on April 15.

Rosengren advocated an inflation target of between 1.5% and 2.5%, where inflation could be allowed to fall below target during a recession, provided it is made up for in “good times”. The target would aim to achieve 2% on average over the economic cycle, he said.

The Fed has

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