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Fed minutes show talk of inflation targets

http://www.marketwatch.com/story/fed-minutes-show-talk-of-inflation-target-
2011-11-22?link=MW_latest_news

Nov. 22, 2011, 1:30 p.m. EST
Fed minutes show talk of inflation targets

By Steve Goldstein WASHINGTON (MarketWatch) – There isn’t enough support as yet for the Federal Reserve to adopt a formal inflation target even as the central bank is moving toward providing more guidance on where its interest rates will be in the future, according to minutes of the last meeting released Tuesday. The minutes were released after a news service broke the 2 p.m. embargo. “Many” participants saw the merits of specifying an explicit long-term inflation goal – informally pegged at around 2% – but the central bank is fretting that doing so would mislead the public into thinking it’s giving greater weight toward its mandate of price stability than its other mandate of full employment

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