McGough, Bruce (contributor); … - 2004
that responds in a \forward-looking" fashion to in ation expectations
can avoid the problem of indeterminacy.
⁄The views … policies
that respond to observable lagged data are also subject to the problem of indeterminacy
and that this problem is even … lever, the federal funds rate,
at a 41-year low of 1.25 percent, the central bank has other resources to in u-
ence interest …