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SCHQ - The Fed Now Wants Even More Inflation. The Old '2 Percent Target' Wasn't Enough
Schwab Long-Term U.S. Treasury ETF
By Philipp Bagus
The US Federal Reserve has adjusted its official inflation target to be even more flexible and inflationary. The Fed has always been more inflationary than the Bundesbank and its successor, the European Central Bank, at least on paper. The primary objective of the ECB is price stability, following the Bundesbank legacy. Curiously, the ECB considers price stability to be given if price inflation is below, but close to, 2 percent. Only when this goal is achieved does the ECB aim to support other economic policies, such as full employment.