Winner of the inflated head award?

• Position: OFF THE NEWS - Frederic Mishkin - Brief article

Federal Reserve strategists are worried that financial markets may become confused in coming months with the arrival of the Fed's newest member of the Board of Governors, Frederic Mishkin. Mishkin coauthored a book with Chairman Bernanke on inflation targeting and, indeed, both are considered the lead global proponents for such an approach to monetary policy. As in most things in life, the issue is timing. Bernanke believes it could be many years before the intellectual groundwork is laid for a pure inflation targeting policy. Mishkin believes inflation targeting should have happened last week. "Mishkin's going to be vigorously pursuing inflation targeting so it could be confusing to the markets...