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Economic Commentary

The Case for Price Stability

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In recent testimony before the U.S. House of Representatives’ Subcommittee on Domestic Monetary Policy, Federal Reserve Bank of Cleveland President W. Lee Hoskins presented this statement of his support for a Congressional mandate making price stability the Federal Reserve’s primary policy goal. House Joint Resolution 409, by committing the central bank to create an explicit plan for price stability, would allow the Federal Reserve to achieve maximum output and employment without incurring the detrimental effects of inflation.

03.15.1990ISSN 2163-3738 EC 3/15/1990

The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This paper and its data are subject to revision; please visit clevelandfed.org for updates.

Suggested Citation

Hoskins, W. Lee. 1990. “The Case for Price Stability.” Federal Reserve Bank of Cleveland, Economic Commentary 3/15/1990.

This work by Federal Reserve Bank of Cleveland is licensed under Creative Commons Attribution-NonCommercial 4.0 International