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

Published: August 27, 2020 10:07am

Updated: August 27, 2020 2:33pm

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.

 

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