The Inflation Targeting Scam And Why It Guarantees The Mother Of Financial Meltdowns

The estimable Martin Feldstein put the wood to the Fed in a recent op ed and in so doing hit the nail directly on the head. He essentially called foul ball on the whole inflation targeting regime and its magic 2.00% goalposts in part due to the measuring stick challenge.  A fundamental problem with an explicit inflation target is the difficulty […]