Speech

Inflation measurement and price volatility

Abstract: Remarks before the Charlotte Economics Club, Charlotte, N.C., October 4, 2007. ; \"Those of us responsible for crafting U.S. monetary policy cannot afford to be distracted by the flux of short-term price changes that are destined to be unwound. Our eye should be focused on underlying inflationary pressures, some of which may indeed be coming from food and energy markets. Routinely excluding food and oil price movements from our inflation gauges may have made sense in the 1970s, the 1980s and even the 1990s--but not now, nor in the next few years.\"

Keywords: Inflation (Finance); Price indexes; Food prices; Petroleum products - Prices;

Bibliographic Information

Provider: Federal Reserve Bank of Dallas

Part of Series: Speeches and Essays

Publication Date: 2007

Number: 37