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Bernanke Moves Fed Toward More Openness With 2% Inflation Goal

Ben S. Bernanke achieved one of his primary goals as Federal Reserve chairman yesterday by setting a numeric goal for inflation, advancing his legacy of greater transparency at the world’s most influential central bank.

The Federal Open Market Committee committed to holding inflation at 2 percent, concluding years of debate that Bernanke advanced after becoming Fed chief in 2006. Starting with his confirmation hearing in 2005, Bernanke said an inflation goal would reduce “public uncertainty” while anchoring long-run expectations about policy making.