Entering 2016, interest rates and inflation had been low for some time. The FOMC added to its
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Entering 2016, interest rates and inflation had been low for some time. The FOMC added to its annual statement of longer-run goals that it would be “concerned if inflation were running persistently above or below” its inflation-rate objective of 2 percent over the longer term.Why might the FOMC have emphasized this “symmetry” of its price-stability goal?
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The symmetry of the inflation objective encourages expectations that whether inflation is ...View the full answer
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Related Book For 
Money Banking and Financial Markets
ISBN: 978-1259746741
5th edition
Authors: Stephen Cecchetti, Kermit Schoenholtz
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