Saturday, October 20, 2012

Bullard on NGDP Targeting

From James Bullard's PDF Inflation Targeting in the USA (6 Feb 2012):
Inflation targeting emphasizes control over inflation as the key long-term goal of monetary policy. This makes sense because the central bank can only influence inflation and not any real macroeconomic variable in the long run.
Bullard is President and C.E.O. of the St. Louis Fed.

No comments: