I was prepping for an Intro to Macro class (I teach it once every 3/4 years just to keep up to date), and was running through my notes on the Fed, and the history of inflation targeting, given that the Fed explicitly dual mandated in 1977, but targeting only “price stability”.
I know I’m grumpy and a dick, but this is a really good historical piece on how and why 2% inflation came to be, from the Fed I was an RA at. So, ignore me, and read the piece. It’s well worth it.
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I was prepping for an Intro to Macro class (I teach it once every 3/4 years just to keep up to date), and was running through my notes on the Fed, and the history of inflation targeting, given that the Fed explicitly dual mandated in 1977, but targeting only “price stability”.
I know I’m grumpy and a dick, but this is a really good historical piece on how and why 2% inflation came to be, from the Fed I was an RA at. So, ignore me, and read the piece. It’s well worth it.