Volcker Questions 2% Cost Inflation Traget
Thursday, May 16, 2013
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Title : Volcker Questions 2% Cost Inflation Traget
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According to the New York Times, Paul Volcker, inward his presently to endure published book, Keeping At It: The Quest for Sound Money as well as Good Government, addresses electrical current policy, similar the ii per centum inflation target that has popular off the destination of the Federal Reserve.
“I puzzle at the rationale,” he wrote. “A ii per centum target, or limit, was non inward my textbook years ago. I know of no theoretical justification.”
With a laugh, he told the Times that he believed the policy was driven past times fears of deflation. “And nosotros haven’t had whatsoever deflation inward this Earth for xc years!”
Volcker is somewhat right here. The consider of a cost inflation target was solely origin introduced to Fed policymakers past times Ben Bernanke when he ran the Fed. But, every bit I pointed out inward 2014, the nutty consider of inflation targetting tin endure traced dorsum decades agone to Milton Friedman.
So Volcker is one-half right, Influenza A virus subtype H5N1 cost inflation target was non business office of master Keynesian thinking (actually neither was coin pumping) but the consider of an inflation target developed about fourth dimension agone as well as has popular off an addendum to to a greater extent than oft than non flawed Keynesian monetary policy thinking.
-RW
You are now reading the article Volcker Questions 2% Cost Inflation Traget with the link address https://inspirationsbymeforyou.blogspot.com/2013/05/volcker-questions-2-cost-inflation.html
Title : Volcker Questions 2% Cost Inflation Traget
link : Volcker Questions 2% Cost Inflation Traget
Volcker Questions 2% Cost Inflation Traget
According to the New York Times, Paul Volcker, inward his presently to endure published book, Keeping At It: The Quest for Sound Money as well as Good Government, addresses electrical current policy, similar the ii per centum inflation target that has popular off the destination of the Federal Reserve.
“I puzzle at the rationale,” he wrote. “A ii per centum target, or limit, was non inward my textbook years ago. I know of no theoretical justification.”
With a laugh, he told the Times that he believed the policy was driven past times fears of deflation. “And nosotros haven’t had whatsoever deflation inward this Earth for xc years!”
Volcker is somewhat right here. The consider of a cost inflation target was solely origin introduced to Fed policymakers past times Ben Bernanke when he ran the Fed. But, every bit I pointed out inward 2014, the nutty consider of inflation targetting tin endure traced dorsum decades agone to Milton Friedman.
So Volcker is one-half right, Influenza A virus subtype H5N1 cost inflation target was non business office of master Keynesian thinking (actually neither was coin pumping) but the consider of an inflation target developed about fourth dimension agone as well as has popular off an addendum to to a greater extent than oft than non flawed Keynesian monetary policy thinking.
-RW
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You are now reading the article Volcker Questions 2% Cost Inflation Traget with the link address https://inspirationsbymeforyou.blogspot.com/2013/05/volcker-questions-2-cost-inflation.html