Fed: Rates to stay ultra-low even after inflation picks up\n\n

In a speech detailing the changes, Chairman Jerome Powell made clear that the policy change reflects the reality that high inflation — once the biggest threat to the economy — no longer appears to pose a serious danger, even when unemployment is low and the economy is growing strongly. Rather, Powell said, the economy has changed in a way that allows the Fed to keep rates much lower than it otherwise would without igniting price pressures.

“The robust job market,” he said, “was delivering life-changing gains for many individuals, families and communities, particularly at the lower end of the income spectrum.” The renewed emphasis on low rates to support the economy comes at a perilous time. Unemployment is still in double digits, and roughly 1 million people are applying for jobless aid each week even as the amount of aid they receive has shrunk. Consumer confidence has tumbled.

“The formal adoption , along with Powell’s still cautious economic outlook, underscore that the Fed will keep rates near zero for a long time,” said Kathy Bostjancic, chief U.S. financial economist at Oxford Economics.She said she continued to believe the Fed would not begin raising rates until 2024.

That's a throwaway line if there ever was one.

Would it have anything to do with a presidential election?

They make and change the rules to however it is in their best interests

The Fed sees it as advantageous to themself, this isn’t from the kindness of their cold steel hearts, if America isn’t kept afloat on the USS CreditBubble.. the Fed sinks with her.. can’t have that 😉

This man has no economics degree from any college his is another trump expert who is making shit up as he goes.

“The economy is always evolving.” Fed Chairman Jerome Powell ' Me: So is Central Banker 👇

Unemployment is good for the stock market!

That’s because the size of our debt is so large any increase in the interest would make paying our debt an impossibility. Our nations financial house of cards is not sustainable.

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Fed Unanimously Approves Shift on Inflation Goal, Ushering in Longer Era of Low RatesChairman Jerome Powell unveiled the updates, the most ambitious revamp of Fed policy-setting framework since it was first approved in 2012, in a speech set for delivery at a virtual symposium. The practical effect is that it may be a very long time before the Fed considers raising interest rates. This could have a major impact in November! Good! Classic mistake. The fed continues to distort the money supply.
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