24. Federal Reserve · Notable · Needs Congress
Compel the Fed to publish a target inflation range and growth path
Printed page 740 24. Federal Reserve
“Have elected officials compel the Fed to specify its target range for inflation and inform the public of a concrete intended growth path. There should be no more “flexible average inflation targeting,” which amounts to ex post justification for bad policy.”
What has happened
- Not started
Neither half was delivered, and the review that could have delivered them declined to. The Federal Open Market Committee's revised Statement on Longer-Run Goals and Monetary Policy Strategy, approved August 22, 2025 and reaffirmed effective January 27, 2026, keeps a single point goal — "inflation at the rate of 2 percent, as measured by the annual change in the price index for personal consumption expenditures" — rather than a target range, and specifies no intended growth path; the Committee's own announcement says "the Committee's two percent longer-run inflation goal was not a focus of the review". Elected officials compelled nothing: no bill in the 119th Congress would require the Federal Reserve to publish a target range or a growth path.
Research log
What was searched, and what didn’t count as evidence
Research notes
This Quote states two asks and the tracker splits them: compelling a published target range and growth path (this item, Requires Congress) and ending flexible average inflation targeting (#2025, which the same revision delivered). They come out at opposite ends of the ladder on one document, which is the point of reading the instrument rather than the subject.
Shares the Chapter 24 cluster negative search on Federal Reserve legislation.
- Action
- issue
- Object
- Federal Reserve inflation target range and intended growth path
- ID
- 2024