Fed Chairman Jerome Powell's policy revolution has been blindsided by COVID - NewsBreak
By Flemming in Business
Updated 3 years ago
It seemed like a good idea at the time. When Federal Reserve Chairman Jerome Powell rolled out a new modus operandi for running monetary policy at the elite Jackson Hole economic symposium a year ago, the economy was just coming out of a pandemic-driven nosedive. That was after a decade of disappointingly slow growth, with inflation stubbornly below target.