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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Yves Smith</author_name><author_url>https://www.nakedcapitalism.com/author/yves-smith</author_url><title>"Perils of Inflation Targeting" | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="HLOafWBzti"&gt;&lt;a href="https://www.nakedcapitalism.com/2007/06/perils-of-inflation-targeting.html"&gt;"Perils of Inflation Targeting"&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2007/06/perils-of-inflation-targeting.html/embed#?secret=HLOafWBzti" width="600" height="338" title="&#x201C;"Perils of Inflation Targeting"&#x201D; &#x2014; naked capitalism" data-secret="HLOafWBzti" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>We&#x2019;ve been skeptical of inflation targeting, no doubt as a result of seeing Paul Volcker use monetary targets very effectively. Witness the proof of the pudding, namely, asset bubbles, deteriorating credit quality, and increasing inflation (at least in overall CPI, although core CPI is better behaved). But serious economists have only started looking into this [&hellip;]</description></oembed>

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