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Federal Reserve Chair Jerome Powell will speak to the Thomas Laubach Research Council on Thursday morning.
The topic of Powell’s presentation is a review that the central bank is implementing its policy framework this year. A framework review conducted every five years will help provide civil servants with a blueprint for future monetary policy.
Following our previous review, the Fed outlined a policy that would become known as flexible average inflation targeting. The move was intended to allow a central bank to slightly surpass the 2% target for a period of time to provide full and comprehensive employment across the economy, including race and gender.
But a year later, inflation began to escalate, eventually reaching 40-year highs, forcing the Fed to a string of aggressive interest rate increases.
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