By Kevin Flanagan
While Powell & Co. didn't necessarily telegraph the Jackson Hole announcement regarding the Federal Reserve's (Fed) new policy framework, enough hints seemed to have been laid out of late suggesting this outcome should not be surprising. Nevertheless, I've watched the Fed for more than 30 years, and this new policy framework does represent a noteworthy shift in how monetary policy is now going to be delivered. Basically, the Fed is definitively stating that official policy can let the economy run "hot, hot, hot" in order to achieve its average inflation goal over