Powell announces new Fed approach to inflation that could keep rates lower for longer

Fed Chairman Jerome Powell announced a major policy shift Thursday to “average inflation targeting.”

That means the central bank will be more inclined to allow inflation to run higher than the standard 2% target before hiking interest rates.

In addition to the inflation change, the Fed changed its approach to employment in a way that will focus on those at the lower end of the income spectrum.
https://www.cnbc.com/2020/08/27/powe...or-longer.html