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NY Fed`s Williams' paper to be presented........>

FED
FED: NY Fed`s Williams' paper to be presented later today (1345ET) makes the
case for average inflation targeting.
- "Two key themes emerge from our analysis. First, the central bank can
eliminate this problem of a downward bias in inflation expectations by following
an average-inflation targeting framework that aims for above-target inflation
during periods when policy is unconstrained.
- @Second, dynamic strategies that raise inflation expectations by keeping
interest rates "lower for longer" after periods of low inflation can both anchor
expectations at the target level and further reduce the effects of the lower
bound on the economy". 
- Paper here:
Https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr887.pdf

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