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Published on Gold Anti-Trust Action Committee (http://www.gata.org)

Fed soon will endorse the inflation that has been running wild for years

By cpowell
Created 2020-08-17 15:34

Fed Close to Making Its New Inflation Strategy Official

By Christopher Condon and Vivien Lou Chen
Bloomberg News
Monday, August 17, 2020

The Federal Reserve will soon reveal a subtle yet profound shift in how it conducts monetary policy for the world’s largest economy, officially embracing a more relaxed view on inflation.

In addition to helping rescue the U.S. economy amid the coronavirus pandemic, Fed Chair Jerome Powell and colleagues also spent 2020 finishing up the central bank's first review of how it pursues the goals of maximum employment and price stability set for it by Congress. It's a process that began in early 2019 and included a nationwide listening tour.

... Dispatch continues below ...


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Now they're close to presenting the results -- perhaps as soon as September.

"It will signal clearly to the market that not only will the Fed tolerate inflation temporarily above 2%, but that it favors it, and will try to aim in that direction," said Mickey Levy, chief economist for the U.S. and Asia at Berenberg Capital Markets.

Several other economists interviewed made precisely the same prediction and agreed that many Fed officials have already been pursuing that strategy for months. Investors also see it coming. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2020-08-17/fed-close-to-making-i... [2]

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Source URL:
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