Fed officials are scrambling to figure out how to fight the next recession

Federal Reserve officials are actively considering a shift away from their current inflation targeting framework toward more aggressive measures to combat ultra-low inflation. However, the barrage of ideas being offered up adds to confusion about the outlook for monetary policy, and neglects the importance of the Fed's employment mandate. New ideas range from price-level targeting, to a temporary price level target, to an inflation target range rather than the current 2% goal. Brookings Institut...