August 2017 was the sixty-fourth consecutive month that the rate of inflation as measured by the core
Question:
August 2017 was the sixty-fourth consecutive month that the rate of inflation as measured by the core personal consumption expenditures (PCE) price index was below the Federal Reserve’s target of 2 percent.
a. Briefly explain why using the consumer price index (CPI) might yield a rate of inflation different from that found using the core PCE price index.
b. Explain how the choice of the price index the Federal Reserve uses to measure inflation can affect monetary policy.
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a Both the consumer price index CPI and the personal consumption expenditures PCEs price index measu...View the full answer
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