This paper examines the implementation and monitoring of inflation targeting, a monetary policy framework where the central bank's primary goal is to keep inflation close to a specified target. The author argues that inflation targeting implies inflation forecast targeting, where the central bank's inflation forecast becomes an explicit intermediate target. This simplifies both implementation and monitoring of monetary policy. The weight on output stabilization determines how quickly the inflation forecast is adjusted towards the target. Money growth or exchange rate targeting is generally less effective and leads to higher inflation variability. The paper also discusses the role of output stabilization, the distinction between 'target rules' and 'instrument rules,' and the transparency of inflation forecast targeting. It concludes that inflation forecast targeting is an ideal intermediate target, highly correlated with the goal, easier to control and observe, and transparent, facilitating communication and public understanding.This paper examines the implementation and monitoring of inflation targeting, a monetary policy framework where the central bank's primary goal is to keep inflation close to a specified target. The author argues that inflation targeting implies inflation forecast targeting, where the central bank's inflation forecast becomes an explicit intermediate target. This simplifies both implementation and monitoring of monetary policy. The weight on output stabilization determines how quickly the inflation forecast is adjusted towards the target. Money growth or exchange rate targeting is generally less effective and leads to higher inflation variability. The paper also discusses the role of output stabilization, the distinction between 'target rules' and 'instrument rules,' and the transparency of inflation forecast targeting. It concludes that inflation forecast targeting is an ideal intermediate target, highly correlated with the goal, easier to control and observe, and transparent, facilitating communication and public understanding.