The inflationary experience of the United States during the 1970s can be interpreted as a time when the Fed increased the target rate of inflation.

Name: The inflationary experience of the United States during the 1970s can be interpreted as a time when the Fed increased the target rate of inflation.
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The Fed's accommodative monetary policy in the 1970s led to an increase in the target rate of inflation, which contributed to the high inflation experienced during that time period.

The Inflationary Experience of the United States During the 1970s