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Inflation Expectations in the U.S. : Linking Markets, Households, and Businesses / Peter D. Williams.

Author/Creator:
Williams, Peter D.
Publication:
Washington, D.C. : International Monetary Fund, 2020.
Format/Description:
Government document
Book
1 online resource (25 pages)
Series:
IMF eLibrary
IMF Working Papers; Working Paper ; No. 2020/240
IMF Working Papers
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Summary:
Inflation has been below the Federal Reserve's target for much of the past 20 years, creating worries that inflation may be deanchoring from the FOMC's target. This paper uses a factor model that incorporates information from professional forecasters, household and business surveys, and the market for Treasury inflation protected securities (TIPS) to estimate long-run inflation expectations. These have fallen notably in the past few years (to roughly 1.9 percent for CPI inflation, well below the FOMC's target). It appears that, even before the covid recession, the private sector viewed the economy as likely to suffer from persistent headwinds to inflation.
Notes:
Part of the IMF eLibrary collection.
Description based on print version record.
Other format:
Print Version: Williams, Peter D. Inflation Expectations in the U.S.: Linking Markets, Households, and Businesses
ISBN:
1513561154 :
9781513561158
ISSN:
1018-5941
Publisher Number:
10.5089/9781513561158.001 doi
Access Restriction:
Restricted for use by site license.