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He was the first one to introduce inflation targeting, and he was very successful; he brought the inflation rate down from a very high level to a very stable level. Mishkin coauthored a book with Chairman Bernanke on inflation targeting and, indeed, both are considered the lead global proponents for such an approach to monetary policy. One of the great fears of the skeptics and some of the proponents of inflation targeting is Congress," Meyers explains. |
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