Determining the expectations in the marketplace

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You've just learned that the Bureau of Economic Advisors (BEA) has been mis-calculating inflation for the last decade or so. Last year's inflation rate was really 2.5%, but they reported it as 4.1%. You are on the FOMC, and you've been relying on this data for policy targeting. What implications does this new information have for your abilities, and for expectations in the marketplace?

Reference no: EM132299174

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