Sentences with phrase «definition of price stability»
In 1966 Janet Yellen asked Alan Greenspan for his definition of price stability and he replied, and I believe correctly, zero.
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During this period, the rate of inflation in the United States fell to levels broadly consistent with most definitions of price stability, and inflation expectations at longer horizons imply confidence that these gains will also prove durable.
Not exact matches
Ideally, we would like (to pick up Alan Greenspan's definition of practical price stability) to see inflation kept low enough so as not to bias behaviour in these costly ways.