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Rate Cuts May Not End Fed's Quantitative Tightening | Former Atlanta Fed President Dennis Lockhart
Forward Guidance
The Fed's Decision to Set an Inflation Target of 2%
You were at the meeting where the Federal Reserve first decided to have an inflation target of 2%. Can you tell us about that meeting, what went into it, and why the Federal Reserve chose 2%. My recollection of the whole history is that Chair Van Bernanke had been trying for years to convince the Committee to become an inflation targeting central bank. It was a pretty dramatic meeting in the sense that something that had been on the table for a number of years finally came to a head and the decision was made.
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