Powell Scraps “Make-Up” Inflation Playbook in Jackson Hole

Federal Reserve Chair Jerome Powell used his Jackson Hole podium on August 22 to declare the end of the central bank’s three-year experiment with “flexible average-inflation targeting.” In its place, the Fed is reverting to a straight-forward but “flexible” 2 percent target, a move that comes as economic momentum cools and goods prices perk up. […]

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