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Journal Article
Is inflation too low?
Inflation, as measured by the Consumer Price Index, seems to have settled at an annual rate of about 2 percent. Is that rate too low? In this article, William Poole, the president of the Federal Reserve Bank of St. Louis, states his belief that the Federal Reserve's target should be zero inflation, abstracting from measurement errors in the price indices. A zero rate would maximize the credibility of monetary policy and minimize distortions in the economy arising from uncertainty over the rate of inflation and from the tax code. One argument against zero inflation is that relative wages ...
Journal Article
Panel discussion
"The Importance of Being Predictable" by John B. Taylor -- "Monetary Policy Under Uncertainty" by Ben S. Bernanke -- "The Importance of Being Predictable" by William Poole
Journal Article
Financial stability
?Financial Stability? is a speech given by the author at the Council of State Governments, Southern Legislative Conference Annual Meeting, New Orleans, Louisiana, August 4, 2002.
Journal Article
President's message
Journal Article
How dangerous is the U.S. current account deficit?
Although this deficit has been rising steadily since the early 1990s, a "hard landing" for the U.S. economy is unlikely. One reason is that only in the United States can so many foreigners invest so much money and get such good returns.
Journal Article
Using T-bill futures to gauge interest rate expectations
Journal Article
President's message
Journal Article
Stop paying more for less: ways to boost productivity in higher education
College tuition has increased dramatically over the past decade, yet few think the quality of graduates has kept up. Decentralizing the administration and privatizing such things as housing and food service would boost productivity, as would ditching tenure and improving teaching.
Journal Article
Understanding the Fed
This article was originally presented as a speech at the Dyer County Chamber of Commerce Annual Membership Luncheon, Dyersburg, Tennessee, August 31, 2006.