Powell Hammers Home Dovish Message in ‘Clean Break’ With Old Fed By Bloomberg
(Bloomberg) -- Federal Reserve Chair Jerome Powell repeatedly stressed on Wednesday that the central bank won’t raise interest rates until the U.S. economy shows tangible evidence it has fully healed from Covid-19. In doing so, he discarded a cardinal tenant of monetary policy to pre-emptively strike against inflation. It’s a significant shift that follows the Fed’s new framework announced last year that markets...
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