There is a point to this economic history. The volatility it describes car rent in
the bond market and the steps it details that Fed policy makers
had to take to counter that volatility and reach their objectives
are both arguments for an inflation target.
The forward-looking commitment to interest rates remaining
low that Fed policy makers imparted with the three words “a
considerable period” was a brave new step for policy makers, essentially
providing a forecast of its policy intentions.
the bond market and the steps it details that Fed policy makers
had to take to counter that volatility and reach their objectives
are both arguments for an inflation target.
The forward-looking commitment to interest rates remaining
low that Fed policy makers imparted with the three words “a
considerable period” was a brave new step for policy makers, essentially
providing a forecast of its policy intentions.
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