k9.txt - Let me summarize what I have said so far in this way in the short-run central banks cannot control inflation In recent news Jerome Powell

k9.txt - Let me summarize what I have said so far in this...

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Let me summarize what I have said so far in this way: in the short-run, central banks cannot control inflation. In recent news, Jerome Powell confirmed this with his own frustration. In Nick Timiraos s March 20, 2019 Wall Street Journal article Fed Keeps Interest Rates Unchanged; Signals No More Increases Likely This Year, Nick reports: In a particularly revealing admission, Mr. Powell said he was discouraged that inflation hadn t risen in a more sustainable fashion. I don t feel we have convincingly achieved our 2% mandate in a symmetrical way, he said. It s one of the major challenges of our time, to have downward pressure on inflation globally. In other words, Jerome Powell, as Chair of the Federal Reserve Board and Chair of its interest-rate-setting Federal Open Market Committee, feels that inflation is changing much more slowly than he would like in response to Fed policy. The Fed has allowed the unemployment to fall below 4% for over a year now, and
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  • Fall '15
  • DR. Aimal

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