Lindsey, David E.; Orphanides, Athanasios; Rasche, Robert H. - Center for Financial Studies - 2005
exclusively upon contemporaneous sources, including the recently released transcripts of Federal Open Market Committee (FOMC …) meetings during 1979. We then present and discuss in detail the reasons for the FOMC’s adoption of the reform and the … inflation targeting. The record suggests that the reform was adopted when the FOMC became convinced that its earlier gradualist …