31Aug
Financial Daily Dose 8.28.2020 | Top Story: In Major Policy Shift, Fed Embraces Inflation to Keep Rates Low
In hotly anticipated comments on Thursday—and yes, such a designation applies to a speech on monetary policy—Federal Reserve Chair Jay Powell “announced a major shift in how the central bank guides the economy, signaling it will make job growth pre-eminent and will not raise interest rates to guard against coming inflation just because the unemployment rate is low.” The new plan forward comes after an almost-2-year review of the Fed’s monetary policy strategy....
By:
Robins Kaplan LLP
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