JSM 2004 - Toronto

Abstract #302249

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Activity Number: 234
Type: Luncheons
Date/Time: Tuesday, August 10, 2004 : 12:30 PM to 1:50 PM
Sponsor: Business and Economics Statistics Section
Abstract - #302249
Title: Keeping Inflation Under Control
Author(s): Stephen G. Cecchetti*+
Companies: Brandeis University
Address: International Business School, Waltham, MA, 02454,
Keywords:
Abstract:

Sometime in the last five years monetary policymakers changed gear. They switched from a posture of pushing inflation down, to one of keeping it from going too low. Last year, it got to the point where many prices were falling, and analysts became concerned about the prospects for deflation. Do monetary policymakers need to approach their job differently when inflation is low? What are the prospects for inflation, and what can we expect from the Federal Reserve over the next few months, quarters, and years?

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Revised March 2004