Not exact matches
The
debate prior to this crisis can be (perhaps simplistically) characterised as between those who argued that an
inflation - targeting central bank should care about asset prices to the extent that they affected the forecasts of output and
inflation over the policy horizon, and those who argued that additional attention needed to be paid to asset prices and the possibility of credit imbalances.
News media are characterizing the
debate over whether or not to increase rates, as «Should we be more concerned about the pace of job growth or the threat of
inflation?»
In normal times, the
debate over monetary policy is between «hawks» who want the Fed to emphasize its
inflation target, and «doves» who want it to focus on lowering unemployment.