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The Fed is expected to make a major commitment to ramping up inflation soon
In the next few months, the Federal Reserve will be solidifying a policy outline that would commit it to low rates for years as it pursues an agenda of higher inflation and a return to the full employment picture that vanished as the coronavirus pandemic hit. Recent statements from Fed officials and analysis from market veterans and economists point to a move to “average inflation” targeting in which inflation above the central bank’s usual 2% target would be tolerated and even desired. To achieve that goal, officials would pledge not to raise interest rates until both the inflation and employment targets are ... (full story)
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