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Maintaining price stability in a global economy

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  • John C. Williams

Abstract

Inflation has risen of late, reflecting higher prices for many commodities. The inflation rate is likely to peak around the middle of 2011 and then return to an annual level of about 1¼ to 1½%. A sustained period of high inflation is very unlikely and the Fed will act quickly and decisively to ensure price stability. The following is adapted from a presentation made by the president and CEO of the Federal Reserve Bank of San Francisco to Town Hall Los Angeles on May 4, 2011.

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Bibliographic Info

Article provided by Federal Reserve Bank of San Francisco in its journal FRBSF Economic Letter.

Volume (Year): (2011)
Issue (Month): may9 ()
Pages:

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Handle: RePEc:fip:fedfel:y:2011:i:may9:n:2011-14

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Keywords: Economic conditions ; Inflation (Finance) ; Monetary policy;

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  1. Hess Chung & Jean-Philippe Laforte & David Reifschneider & John C. Williams, 2011. "Have we underestimated the likelihood and severity of zero lower bound events?," Working Paper Series 2011-01, Federal Reserve Bank of San Francisco.
  2. Joseph Gagnon & Matthew Raskin & Julie Remache & Brian Sack, 2011. "Large-scale asset purchases by the Federal Reserve: did they work?," Economic Policy Review, Federal Reserve Bank of New York, issue May, pages 41-59.
  3. Alan S. Blinder & Ricardo Reis, 2005. "Understanding the Greenspan standard," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, issue Aug, pages 11-96.
  4. Christopher Erceg & Luca Guerrieri & Steven B. Kamin, 2011. "Did Easy Money in the Dollar Bloc Fuel the Oil Price Run-Up?," International Journal of Central Banking, International Journal of Central Banking, vol. 7(1), pages 131-160, March.
  5. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "This Time Is Different: Eight Centuries of Financial Folly," Economics Books, Princeton University Press, edition 1, volume 1, number 8973.
  6. Robert Rich & Charles Steindel, 2005. "A review of core inflation and an evaluation of its measures," Staff Reports 236, Federal Reserve Bank of New York.
  7. Glenn D. Rudebusch, 2010. "The Fed's exit strategy for monetary policy," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue jun14.
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