Economics
Fed Officials Play Down Need to Boost Rate Guidance in September
- Dallas Fed chief speaks in Bloomberg TV interview Friday
- Cleveland’s Mester says economy will need ongoing Fed support
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Federal Reserve officials said they are in no hurry to update guidance on how long interest rates will stay at zero, following a historic strategy shift to be more tolerant of inflation.
Some economists saw Thursday’s speech by Chair Jerome Powell that the central bank will seek inflation that averages 2% over time -- and not react when it overshoots that goal modestly -- as signaling a change in the Fed’s description of how long it will hold rates steady at its meeting next month.