Inflation targeting helps keep long-term inflation expectations stable. By comparing bond yields in the U.S., U.K., and Sweden, researchers found that countries with inflation targets have more stable inflation expectations. In the U.S., inflation expectations react strongly to economic news, while the U.K. saw a change after the Bank of England gained independence. Sweden's inflation expectations remained steady throughout the study period. This suggests that a credible inflation target helps keep long-term inflation expectations in check.