Skip to:
  1. Main navigation
  2. Main content
  3. Footer
Economic Commentary

Inflation, Inflation Expectations, and Monetary Policy

Careful readers of FOMC communications will note that in addition to talking about actual inflation, the committee often talks about inflation expectations. Sandra Pianalto, the president and chief executive officer of the Federal Reserve Bank of Cleveland, explains the important role that inflation expectations play in the monetary policy process. This Commentary is taken from a speech she delivered to the Copper Development Association’s Global Market Trends Conference on September 8, 2006.

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 for updates.

Suggested Citation

Pianalto, Sandra. 2006. “Inflation, Inflation Expectations, and Monetary Policy.” Federal Reserve Bank of Cleveland, Economic Commentary 9/15/2006.

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