While serving as the president of the Federal Reserve Bank of St. Louis, William Poole stated, Although

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While serving as the president of the Federal Reserve Bank of St. Louis, William Poole stated, "Although my own preference is for zero inflation properly managed, I believe that a central bank consensus on some other numerical goal of reasonably low inflation is more important than the exact number." Briefly explain why the economy might benefit from an explicit inflation target even if the target chosen is not a zero rate of inflation.
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Economics

ISBN: 978-0134106243

6th edition

Authors: R. Glenn Hubbard

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