Fed Unanimously Approves Shift on Inflation Goal, Ushering in Longer Era of Low Rates

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    The Federal Reserve unanimously approved on Thursday a new strategy that will effectively set aside a practice it has followed for more than three decades to pre-emptively lift interest rates to head off higher inflation.

    Fed Chairman Jerome Powell unveiled the updates in a speech set for delivery at a virtual symposium on Thursday, the most ambitious revamp of the Fed policy-setting framework since it was first approved in 2012. The practical effect is that it may be a very long time before the Fed considers raising interest…

    Source: https://www.wsj.com/articles/feds-powell-headlines-virtual-jackson-hole-economic-conference-11598486400

    Federal Reserve System, Jerome Powell, United States Dollar, Inflation

    World news – US – Fed Unanimously Approves Shift on Inflation Goal, Ushering in Longer Era of Low Rates

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