Our website will undergo scheduled maintenance on the morning of Thursday, August 11, 2022. During this time, connection to our website and some of its features may be unavailable. Thank you for your patience and we apologize for any inconvenience.

Journal Article

Inflation in 1972: A Cautionary Tale


Abstract: The path of inflation over the past two years looks strikingly similar to the path observed during the 1970s, when the Federal Open Market Committee shifted its focus away from fighting inflation before price pressures were fully under control. Although policymakers in both the 1970s and today have faced extraordinary challenges, future perceptions of current policy will likely be defined primarily by the outcome of the Committee’s attempts to curb inflation, rather than the circumstances surrounding it.

Keywords: Inflation; Monetary policy; Federal Open Market Committee (FOMC);

JEL Classification: E31; E2; E52;

Access Documents

File(s): File format is application/pdf https://www.kansascityfed.org/Economic%20Bulletin/documents/8871/EconomicBulletin22Howes0701.pdf
Description: Full text

Authors

Bibliographic Information

Provider: Federal Reserve Bank of Kansas City

Part of Series: Economic Bulletin

Publication Date: 2022-07-01

Issue: July 1, 2022

Pages: 4