The Inflation Perfectionists
Notes on the Week Ahead
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The Fed's Inflation Target
The Fed has become ever more strident and insisting that they reach their 2% inflation goal. This perfectionism is a little strange given how much inflation is already fallen, says Julian Zelizer. The Federal Reserve cannot forecast how all aspects of the US economy will react over time to a sudden hike in short-term interest rates after nearly 15 years or close to 0%.
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