Published By:Bloomberg
Fed Should Study Higher Inflation Target, Liberal Economists Say
A group of 22 progressive economists including Nobel Prize winner Joseph Stiglitz urged the Federal Reserve to appoint a blue-ribbon commission to consider raising its 2 percent inflation target.
In a letter to Chair Janet Yellen and the rest of the Fed board released on Friday, the economists argued that a higher objective would give the central bank more room to combat downturns in the economy without unduly hurting Americans’ living standards.