Economics
Powell Paves Way for Possible Dovish Shift in Inflation Strategy
- FOMC tweaks statement hinting greater resolve to hit 2% target
- Fed chief says FOMC ‘not satisfied’ with continued undershoot
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Federal Reserve Chairman Jerome Powell signaled that the central bank would pull out the stops to combat a global disinflationary downdraft, foreshadowing a potential shift toward an easier monetary policy over time.
Speaking to reporters on Wednesday after the Fed left its benchmark interest rate unchanged, Powell said he is intent on evading the downward spiral in inflation and inflation expectations that’s bedeviled other countries.