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
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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.