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Federal Reserve Bank of Cleveland
Economic Review
Practical issues in monetary policy targeting
Stephen G. Cecchetti

An outline of the considerable information requirements faced by monetary policymakers, and an examination of the data to see what we actually know and how well we know it. The author's primary conclusion is that the deficiencies of our forecasting ability create uncertainty that leads to cautious policymaking.

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Stephen G. Cecchetti, "Practical issues in monetary policy targeting" , Federal Reserve Bank of Cleveland, Economic Review, issue Q I, pages 2-15, 1996.
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