Yellen legacy-to-date sparkles on jobs but stumbles on inflation
However, low rates of inflation haven't hurt the US economy, and prices are rising gradually with wages
Washington
ON the employment side of the Federal Reserve's twin objectives, chair Janet Yellen's track record so far has been a sparkling success. On the other, there's a problem with a stubborn, uncooperative indicator: inflation.
The Fed's preferred price measure has averaged 1.1 per cent since Ms Yellen took the US central bank's helm in February 2014 - a significant miss of the Fed's 2 per cent inflation target. It averaged 2.5 per cent during Alan Greenspan's chairmanship between 1987 and 2006, and 1.9 per cent during eight years under B…
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