DOI: 10.1002/soej.12761 ISSN: 0038-4038
Symposium introduction: Reviewing the Federal Reserve's framework
Bryan P. Cutsinger, William J. LutherAbstract
The Federal Reserve introduced a new monetary policy framework in August 2020. Shortly after, inflation picked up, reaching a 40‐year high of 7.0% in June 2022. We explain why prices have risen so high over the last few years, why they remain elevated, and how the Fed's monetary policy framework might be revised in light of this experience.