Powell set to deliver ‘profoundly consequential’ speech, changing how the Fed views inflation (cnbc)

• Fed Chairman Jerome Powell will speak Thursday during a virtual version of the Fed’s annual Jackson Hole, Wyoming, conference.
• He is expected to outline what could be the central bank’s most active efforts ever to spur inflation back to a healthy level.
• “Average inflation” targeting means the Fed will allow inflation to run higher than normal for a period of time.
• The effort will be the reverse of former Fed Chairman Paul Volcker’s rate hikes instituted to quash inflation in the 1980s.

https://www.cnbc.com/2020/08/24/powell-set-to-deliver-profoundly-conseq…