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Flexible commitment or inflation targeting for the U.S.?

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  • Anthony M. Santomero

Abstract

The idea of creating a framework for explicit inflation targeting in the U.S. has recently become a topic of considerable discussion. The key question is: Could inflation targeting improve on the U.S. economy's performance? President Anthony Santomero thinks inflation targeting makes sense for the U.S., in principle. But he cautions that several important issues must be worked out first. In this quarter's message, \\"Flexible Commitment for Inflation Targeting for the U.S.?\\" he discusses these issues, which include calibrating the target and reconciling inflation targeting with the Fed's mandate to foster not just price stability but also full employment

Suggested Citation

  • Anthony M. Santomero, 2003. "Flexible commitment or inflation targeting for the U.S.?," Business Review, Federal Reserve Bank of Philadelphia, issue Q3, pages 1-7.
    • Handle: RePEc:fip:fedpbr:y:2003:i:q3:p:1-7
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    References listed on IDEAS

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    1. Frederic S. Mishkin & Adam S. Posen, 1997. "Inflation targeting: lessons from four countries," Economic Policy Review, Federal Reserve Bank of New York, vol. 3(Aug), pages 9-110.
    2. Alfred Broaddus, 2003. "Monetary policy in a low inflation environment," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 89(Spr), pages 1-6.
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    Inflation (Finance);

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