A new economic paper gives a boost to the idea that the Fed should set a higher inflation target
WASHINGTON—A higher Federal Reserve inflation target ahead of the 2007-09 recession likely would have given the central bank more room to lower interest rates and resulted in a “substantially” faster economic recovery, a group of economists has found.
If the Fed had set its inflation target above its current 2% level, that would have led to higher inflation over time, which would have caused interest rates to climb higher than they did before the recession, according to a paper by economists Janice Eberly, James Stock and...
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European markets seen slightly higher amid expectations ECB could cut rates before FedMarket focus is largely attuned to global central banks, amid expectations the ECB and the Federal Reserve could soon cut interest rates.
Read more »
The Fed can’t stop a market meltdown, warns forecaster who called the 2008 housing bust'If we are on a recessionary course, either by the level of debt or the level of overconfidence in the economy, the Fed may not be able to prevent it even with multiple rate cuts,” this forecaster says
Read more »
Robo Adviser Betterment Pitches for Client Cash by Offering Traditional BankingBetterment, an early provider of digital-investing services, is introducing new banking products at a time when anxiety over slowing economic growth has led some investors to reduce market exposure and stockpile cash.
Read more »
Bernie Sanders says campaign has reached agreement with staffers for higher pay'I was insistent that everybody on our staff make at least $15 an hour, and in fact they're making $17 an hour.' Sen. Bernie Sanders says his campaign has reached a deal with its unionized staffers to increase their pay following negotiations.
Read more »
United Tech profit beats on higher demand for aircraft partsUnited Technologies Corp reported better-than-expected quarterly earnings and ra...
Read more »
Tesla’s Higher-End Sales Erode in Key Market Amid Model 3 GainsSales of Tesla’s high-end Model S sedan have taken a big hit in the company’s most important U.S. market, California, as the electric auto maker is leaning more heavily on selling the lower-priced Model 3 compact car.
Read more »