Fed’s Brainard (dove, voter): inflation overshoot policy is difficult to calibrate

No economic outlook remarks in the prepared speech

– Sees some risks in price-level goals for central banks
– Fed inflation miss risks reducing price expectations

In the Q&A:-Pre-crisis normal is not a good guide for the new normal
– Persistently low neutral rate has big implications

https://www.federalreserve.gov/newsevents/speech/brainard20171012a.htm

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K-man

Fundamentalist market maker, turned all round market taker.
Philosophy: “Cycling is good for your health, overtrading is bad”

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