U.S. Economy

The Fed Knows How to Hit Its Target

The question is whether it has set the right goals and done enough to achieve them.

More accurate than you might think.

Photographer: William Vanderson/Fox Photos/Getty Images

My former Federal Reserve colleague Kevin Warsh has penned an article in the Wall Street Journal that assails the central bank for its "deeply flawed" management of the economy. I disagree with many elements of his argument, but I want to focus on one: that the Fed doesn’t know how to achieve its inflation objective.

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