How right Christine Lagarde is. The acknowledgment that - TopicsExpress

How right Christine Lagarde is. The acknowledgment that monetary policy must be more than inflation targeting, and indeed that a single focus on price stability brings problems, must be welcomed. We have argued for years that inflation targeting is not the right monetary policy for a number of reasons. Low inflation and price stability do not necessarily lead to macroeconomic stability – the great recession is an obvious example. Countries that did not pursue inflation targeting policies managed as well as those countries that did in terms of inflation and locking-in inflation expectations at low levels. mais uma fraude intelectual de Marina Silva, nem o FMI recomenda mais a independência dos Bancos Centrais.

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