Janet Yellen, chair of the U.S. Federal Reserve, listens during a Senate Banking Committee hearing in Washington, D.C., U.S. (Photographer: Andrew Harrer/Bloomberg)  

Fed's Long-Run Miss of Inflation Goal Undermines Rate Hike Case

(Bloomberg) -- When Federal Reserve policy makers were debating the adoption of an inflation target five years ago, the hawks pushed for a 1.5 percent goal as the best way to meet the central bank’...

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