21世纪货币政策

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• More benignly, the downward drift in the natural rate of unemployment, a flatter Phillips curve, and well-anchored inflation expectations looked to have given the Fed more room to push for a “hot” labor market with less concern about too-high inflation. (查看原文)

  目送飞鸿 1赞 2022-07-03 21:05:16

• As a result of its review, the FOMC approved two principal changes to its policy framework. First, in pursuing its inflation goal, the Committee would henceforth try to make up for past undershoots (though not overshoots) of the inflation target. If inflation ran below 2 percent for a time, as it had through most of the expansion following the Great Recession, the Committee would compensate by allowing inflation to run “moderately above 2 percent for some time.” The goal of the new approach would be to keep inflation near target on average. … Powell dubbed the new makeup strategy “flexible average inflation targeting,” or FAIT. It was flexible in several senses. In keeping with the dual mandate and the approach we adopted in 2012, it would require the Committee to take account of employmen... (查看原文)

  目送飞鸿 1赞 2022-07-03 21:05:16

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