美国传统基金会-通货膨胀与美联储：国会应如何对待货币政策（英文）-2021.6-17正式版.docVIP

BACKGROUNDER No. 3624 | June 1, 2021 CENTER FOR DATA ANALYSIS Inflation and the Fed: How Congress Should Approach Monetary Policy Norbert J. Michel, PhD KEY TAKEAWAYS The rise in the consumer price index and weak job growth, has stoked fears of 1970s style stagflation, an economy that exhibits both high unemployment and inflation. Changes to the Fed’s operating frame-work, including how it targets inflation, have made it hard to know exactly what the Fed will do as economic conditions unfold. Congress should get federal spending under control and replace the Feds mandate on stable prices and