Journal Article

Credibility begins with a clear commitment to price stability


Abstract: An argument that the central bank should adopt a policy of price stability based on an explicit objective for the Consumer Price Index, which the Cleveland Fed President believes would provide a nominal anchor for the dollar as well as a clear standard by which to measure the success of monetary policy.

Keywords: Monetary policy; Consumer price indexes; Inflation (Finance);

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Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Commentary

Publication Date: 1993

Issue: Oct

Order Number: 1