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Fed Will Target An Average Inflation Of 2 Percent
In his speech at the Jackson Hole symposium, US Federal Reserve President Jerome Powell said that the Fed will target an average inflation of 2 percent.
Yazar: Tom Roberts
Yayınlanma: 27 Ağustos 2020 20:35
Güncellenme: 23 Kasım 2024 00:02
Fed Will Target An Average Inflation Of 2 Percent
In his speech at the Jackson Hole symposium, US Federal Reserve (Fed) President Jerome Powell said that the Fed will target an average inflation of 2 percent. Describing the changes he announced as "a strong update in our monetary policy framework", Powell's comments were considered by the markets as another indicator that the Fed would not be in a hurry to raise interest rates.Maximum Employment
"The maximum level of employment will be a broad-based and inclusive target," said Powell, who spoke online due to the pandemic. Powell noted that his decisions will be informed by an assessment of "the differences with the maximum level of employment". The previous version referred to "deviations from the maximum level". This change reduces the emphasis on previous concerns that low unemployment could lead to overinflation. “If extreme inflationary pressures build and inflation expectations remain above our target, the central bank will not hesitate to act,” Powell pointed to a risk.İLGİLİ HABERLER
European stocks soared and focus shifted to German retail sales after Powell's speech!
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