Introducing the St. Louis Fed Price Pressures Measure

In January 2012, the Federal Reserve joined many other central banks in adopting a numerical inflation target: 2 percent over the medium term. Monetary policy tends to affect the economy with a lag, so prudent monetary policymaking in an inflation-targeting regime requires a forecast of future inflation over the medium term.
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Additional Fed Publications

Fed in Print: An index of the economic research conducted by the Fed.