Exact(18)
He is right about introducing a formal inflation target.
It is mulling a formal inflation target which, by encouraging people to expect positive inflation, would make deflation less likely.
ReprintsHowever, the alternative a formal inflation target, as used by the Bank of England may be prone to similar problems.
Raghuram Rajan, the head of the Reserve Bank of India (RBI), is inching closer to a formal inflation target.
His scholarly interests ranged from abstruse matters such as the theoretical merits of setting a formal inflation target to historical questions, including the causes of the Great Depression.
And at what pace would the former Princeton professor push the Fed towards adopting a formal inflation target, an idea he had long championed?
Similar(42)
Eight in ten people have no formal jobs; inflation, officially estimated at more than 3,700%, may actually be twice as high.So President Robert Mugabe has decided to try to do something about the galloping prices of basic goods.
We classified socioeconomic status (SES) according to Nam and Powers, using years of formal education, inflation-adjusted monthly household income, and current or past occupation at baseline to calculate an SES score on an ascending scale between 0 and 100 [ 16].
A growing number of central banks have adopted formal targets for inflation.
Mr Bernanke may want the Fed to adopt a more formal target for inflation, but any shift will be done gradually.Mr Bernanke's style, however, was different from Mr Greenspan's.
For more than a year after he was appointed by President George W. Bush to chair the Fed, in February, 2006, he faithfully upheld the policies of his immediate predecessor, the charismatic free-market conservative Alan Greenspan, and he adhered to the central bank's formal mandates: controlling inflation and maintaining employment.
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