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The typical numerical target of 2% has come under debate since the period of rapid inflation experienced following the monetary expansion during the COVID-19 pandemic. Mohamed El-Erian has suggested the Federal Reserve raise its inflation target to a (stable) 3% rate of inflation, saying "There's nothing scientific about 2%". [59]
In effect, the change made 2% into a less rigid target by allowing the Fed to look at 2% as an average and allowing inflation to run slightly hotter for stretches.
The Fed’s goal in raising interest rates is to curb inflation enough to hit the target rate of around 2%. According to the Fed, this is an ideal place for inflation to be — good for both ...
Most importantly, the FOMC decided to adjusts its strategy towards an average inflation target of 2% over time, instead of an upper limit of the inflation target at 2%. Official statement: July 29, 2020 0%–0.25% 0.25% 10-0 Official statement: June 10, 2020 0%–0.25% 0.25% 10-0 Official statement: April 29, 2020 0%–0.25% 0.25% 10-0 Official ...
The Fed’s favorite inflation gauge—the core personal consumption expenditures (PCE) price index, which excludes more volatile food and energy prices—rose 2.8% from a year ago in March. That ...
PALO ALTO, California (Reuters) -The U.S. central bank's 2% target for inflation is key to achieving price stability and essential for ensuring economic prosperity, New York Federal Reserve Bank ...
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The Fed’s Powell said his 2% inflation target was nonnegotiable. Jamie Dimon is skeptical it’s even possible. Eleanor Pringle. August 8, 2024 at 8:06 AM.