A couple of weeks ago, Bloomberg's John Berry made the following assertion in an article tallying up who's for and who's against inflation targeting among Federal Open Market Committee participants:
On Feb. 21, at a conference in Milan, Italy, Sandra Pianalto, president of the Cleveland Fed, said she is opposed to adopting a target.
No, she didn't. Here's the speech that was delivered, which does not stake out a specific position on the issue. Furthermore, it turns out that I have a close professional relationship with President Pianalto, and know that she made no such assertion in any other comments either. In fact, as of yet, she has yet to publicly take a side, one way or another. If and when she does, I will dutifully report.