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Federal Reserve’s inflation target fudge: what it means for Australians – ABC News
The Federal Reserve announced a major change last week that has already sent the Australian dollar to a two-year high and could have other big effects on Australian households. This is what the US central bank did and why it matters.
Late last week, the chairman of the US central bank announced major changes to the way the US will be targeting inflation in coming years.
Instead of trying to keep inflation around 2 per cent by lowering or raising interest rates, Fed chairman Jerome Powell said the US central bank might let things run a bit hot for a while as the economy bounces back from coronavirus.
That means US interest rates are likely to stay around zero for years, even as the economy rebounds.
It sounds pretty wonkis…
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