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[mick]

New Fed, who dis?



Jerome Powell dropped the virtual mic yesterday at the Fed’s annual Jackson Hole Symposium. It’s good to see the US central bank is limiting expenses these days. The leader of the Federal Reserve announced a new policy, indicating that the central bank is willing to allow inflation to run higher than normal for the foreseeable future.


Prior to the changes, the Fed had a hard and fast 2% target for inflation. Thanks for trying to keep the price of White Claws down, Jer. You the real MVP.


But ‘rona boi done changed the game. The new policy of “average inflation targeting” will allow inflation to run higher than the previous 2% target. Ultimately, the goal is to support labor markets and the broader economy by being a little bit more chill about inflation.