Bullard says US government should scrap CPI inflation targeting
The US government should follow the Federal Reserve and adopt the personal consumption expenditures price index (PCE) as its standard inflation measure, St Louis Reserve Bank chief James Bullard argued this week – adding that such a move would improve consistency and provide clarity to the American public.
Currently, the federal government uses the consumer price index (CPI) to measure inflation, unlike the Fed, which has relied on PCE in its quarterly economic projections since 2000 and also
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