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These brief essays delve into the economic issues of the day for a generally informed readership.

2009, No. 47 (Posted 2009-12-18)

The Case for “Inflation First” Monetary Policy

by Daniel L. Thornton

Policymakers should not think of price stability and economic stability as competing objectives but as complements—the best way to achieve the latter is to be firmly committed to achieving the former.

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