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Ben S. Bernanke has been nominated to replace Alan Greenspan as chairman of the Federal Reserve Board of Governors on February 1, 2006. Bernanke is widely expected to advocate that the Fed move away from a discretionary monetary policy toward one based on inflation targeting.

Please join us for a discussion of what inflation targeting might mean for U.S. monetary-policy management and how successful inflation targeting has been in countries that have already adopted it as a monetary-policy guide.