The International Economy published in their Winter 2026 edition, a new article by William White. White argues that near term inflation targeting, as it has been practiced, need to be seriously challenged. Among its many unintended consequences, it has left central banks with very limited capacity to resist inflationary pressures and has left both central banks and fiscal authorities constrained in resisting recessions. In short, “Inflation targeting has clearly led us to a place where we do not wish to be.”
InternationalEconomyChalengingInflationTargetting