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Powell announces changes in Federal Reserve's inflation policy

Powell said the shift also will help a wider range of U.S. workers to benefit from a strong economy

Updated: August 27, 2020 - 2:33pm

The Facts Inside Our Reporter’s Notebook

Federal Reserve Chairman Jerome H. Powell on Thursday said the reserve will focus on keeping unemployment low and allowing inflation to slightly increase in good economic times, a shift intended to keep interest rates low.

Powell announced the change in a speech at the Kansas City Fed’s annual Jackson Hole symposium. 

He said the shift would also help a wider range of U.S. workers to benefit from the gains of a strong economy, according to The New York Times.