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Transcript: INFLATION TARGETING REFORM OF FEDERAL RESERVE INTRODUCED
- Article from:
- Capitol Hill Press Releases
- Article date:
- February 9, 1999
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FOR IMMEDIATE RELEASE CONTACT: DANIEL GUIDO FEBRUARY
9, 1999
202-226-0603
INFLATION TARGETING OF FEDERAL RESERVE INTRODUCED
Fed Chairman Greenspan Supportive of Inflation Targeting Objective
WASHINGTON, D.C. - Legislation to mandate price stability as the primary
goal of Federal Reserve monetary policy was introduced today by Congressman
Jim Saxton, who will serve as Joint Economic Committee (JEC) Vice-
Chairman
in the 106th Congress. The bill, The Price Stability Act of 1999,
mandates
the use of inflation targets by the Federal Reserve to achieve the
price
stability objective. At a JEC hearing Saxton chaired last year, ...