Journal Article
The CPI–PCEPI Inflation Differential: Causes and Prospects
Janson, Wesley; Binder, Carola; Verbrugge, Randal (2020-03-02)
The Federal Open Market Committee’s inflation target is stated in terms of the personal consumption expenditures price index (PCEPI). The PCEPI, like the consumer price index (CPI), measures inflation in the expenditures of households, but these indexes differ in purpose, scope, and construction. Notably, since the CPI is used as the reference rate for numerous financial contracts, one can derive implied longer-run CPI inflation forecasts from financial contracts. Such forecasts are widely reported. But if policymakers are to use these forecasts to guide their pursuit of the inflation ...
Economic Commentary , Volume 2020 , Issue 06 , Pages 8

Journal Article
Overshooting the Inflation Target
Neely, Christopher J. (2021-10-07)
Although transitory factors have largely driven the recent rise in inflation, expansionary policy to relieve unusual economic conditions also played a role.
Economic Synopses , Issue 24 , Pages 1-3