Dollar Tumbles as Fed Adopts Average Inflation Targeting to Allow Inflation Overshoot
Dollar appears to have finally taken a side, the downside, with Fed chair Jerome Powell’s Jackson Hole speech. In short, Fed is now adopting a “flexible form of average inflation targeting”, to achieve inflation that “averages 2 percent over time”. Therefore, following periods when inflation has been running below 2 percent, appropriate monetary policy will […]
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