Federal Reserve Chair Jerome Powell is expected on Thursday to begin setting out the U.S. central bank's new strategy for meeting its price ...
Federal Reserve Chair Jerome Powell is expected on Thursday to begin setting out the U.S. central bank's new strategy for meeting its price stability and maximum employment goals, a long-anticipated overhaul that comes amid a deep economic crisis and just months before Americans vote in a contentious election.
Powell is expected to discuss the results of the Fed's framework review, an initiative started nearly two years ago through public hearings and research to explore how monetary policy should be adapted for a low interest rate environment. He is scheduled to begin his speech at 9:10 a.m. EDT . That could mean the Fed embraces the idea of tolerating inflation that is above its 2per cent target to allow for stronger labor market gains.The central bank has persistently undershot its inflation target since it was formally established in 2012, and some economists say raising interest rates preemptively out of concern about future jumps in inflation can cut off labor market gains before workers on the margins can reap the benefits.
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