Fed chair Powell signals rethink of strategy on jobs and inflation risks

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Fed chair Powell signals rethink of strategy on jobs and inflation risks - Business Standard

Quick Summary:

The Fed for now has said it would stay on the sidelines, with interest rates held steady in the current 4.25% to 4.

Five years ago the Fed recast its approach to allow more room for lower unemployment rates and pledged to use periods of high inflation to offset years in which inflation was weak, a common occurrence from 2010 to 2019.

But his comments suggest the Fed may be moving toward a strategic approach that makes more explicit its plans to stay in front of potential inflation shocks in the future -- something former officials and analysts have called for given the central bank's slow response when inflation surged in 2021.