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TIPS - The Fed's New Inflation Goals: What They Mean To You
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The Federal Reserve announced on Thursday, Aug. 27, that it has adopted a new strategy for monetary policy that will be more tolerant of temporary increases in inflation.
Basically, the new approach will allow inflation to overshoot the US central bank’s 2% target to compensate for persistently low inflation, which has been weighing on the US and other economies in recent years.
Following periods when inflation has been running below 2 percent, appropriate monetary policy will likely aim to achieve inflation moderately above 2 per cent for some time,” Mr. Powell said.