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Stable prices, stable economy: keeping inflation in check must be No. 1 goal of monetary policymakers

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Abstract

Conventional wisdom holds that if policymakers are too focused on controlling inflation, then employment, output growth and financial stability will suffer. But the conventional wisdom is wrong, according to the data.

Suggested Citation

  • William Poole & David C. Wheelock, 2008. "Stable prices, stable economy: keeping inflation in check must be No. 1 goal of monetary policymakers," The Regional Economist, Federal Reserve Bank of St. Louis, issue Jan, pages 4-9.
    • Handle: RePEc:fip:fedlre:y:2008:i:jan:p:4-9
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    File URL: https://www.stlouisfed.org/publications/regional-economist/january-2008/stable-prices-stable-economy-keeping-inflation-in-check-must-be-no-1-goal-of-monetary-policymakers
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    Cited by:

    1. Ali, Syed Zahid & Qureshi, Irfan A., 2021. "Anticipated versus unanticipated productivity shocks and hours-worked," International Review of Economics & Finance, Elsevier, vol. 72(C), pages 547-572.
    2. Meyer Danie Francois & Chipeta Chama & Camel Richard Thabang Mc, 2018. "An Analysis of the Effectiveness of Interest Rates to Facilitate Price Stability and Economic Growth in South Africa," Studia Universitatis Babeș-Bolyai Oeconomica, Sciendo, vol. 63(3), pages 68-90, December.
    3. Ioannis N. Kallianiotis, 2021. "Monetary Policy Rules vs Discretion: Social Cost and Benefits," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 11(5), pages 1-6.

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    Keywords

    Monetary policy; Inflation (Finance);

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