What Rule for the Federal Reserve? Forecast Targeting
NBER Working Paper No. 23993
---- Acknowledgments ----
A preliminary version of this paper was presented at the Federal Reserve Bank of Boston's 61st Economic Conference, “Are Rules Made to be Broken? Discretion and Monetary Policy,” October 13-14, 2017. I thank Ben Bernanke, Edward Nelson, conference participants, the conference discussant V.V. Chari, and the editor and two anonymous referees for comments. Any views expressed and any errors are those of the author. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.