Skip to main content

2005, No. 28
Posted 2005-12-01

Understanding the Inflation Targeting Debate

by James Bullard

"Inflation targeting” is a sometimes nebulous phrase used to describe a monetary policy style which, at its heart, has the central bank setting an explicit, long-run, numeric target for inflation. Ben Bernanke is on the record favoring inflation targeting, while outgoing Chairman Alan Greenspan has been opposed.