On the cost of inflation
Paul Gomme ()
Economic Commentary, 2001, issue May
The FOMC has two objectives: maximizing sustainable economic growth and maintaining price stability. At times-like the past year-these goals appear to be in conflict. This Commentary outlines some economic theory that suggests that in the long run, the FOMC can achieve its two objectives by focusing primarily on its price stability target.
Keywords: Inflation (Finance); Economic conditions - United States; Monetary policy (search for similar items in EconPapers)
References: Add references at CitEc
Citations Track citations by RSS feed
Downloads: (external link)
https://www.clevelandfed.org/~/media/content/newsr ... tion%20pdf.pdf?la=en Full text (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:fip:fedcec:y:2001:i:may15
Ordering information: This journal article can be ordered from
Access Statistics for this article
More articles in Economic Commentary from Federal Reserve Bank of Cleveland Contact information at EDIRC.
Series data maintained by 4D Library ().