Economics

Fed's Nominal-GDP Targeters Stage Mini Revolt: Conference Update

Attendees at Fed’s Chicago confab don’t see full employment
Officials and leading academics debate effectiveness of tools

Jerome Powell speaks during the Monetary Policy Strategy, Tools, and Communication Practices Conference in Chicago on June 4. — Jerome Powell speaks during the Monetary Policy Strategy, Tools, and Communication Practices Conference in Chicago on June 4.
Photographer: Taylor Glascock/Bloomberg

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By Matthew Boesler and Rich Miller

June 5, 2019 at 6:29 PM UTC

This article is for subscribers only.

Central bankers are making waves at what may well be the monetary-policy event of the year in the U.S.

Federal Reserve officials and leading academics gathered in Chicago Tuesday and Wednesday to debate whether policy makers need to overhaul their strategies, tools and communication for managing inflation and preparing for the next economic downturn.