https://www.clevelandfed.org/publications/working-paper/2021/wp-2119-average-inflation-targeting
Average Inflation Targeting: Time Inconsistency And Intentional Ambiguity
We study the implications of the Fed's new policy framework of average inflation targeting (AIT) and its ambiguous communication. We show that AIT improves the...
inflation targetingtime inconsistencyaverageintentionalambiguity