The Federal Reserve’s inflation gamble is a sea change in monetary policy

The Federal Reserve’s inflation gamble is a sea change in monetary policy
·12 min read

The US Federal Reserve’s resolve to care about jobs as much as it does about inflation is being tested by rising prices. The great re-opening has surprised observers in different ways—employment has been slower to return and prices have risen slightly faster than the Fed and many forecasters expected. At the same time, the underlying dynamics of the economy, particularly the connection of price increases to predictable post-recession supply shortages and pandemic-driven social changes, remain in line with the expectations.

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