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Federal Reserve Chair Jerome Powell speaks Thursday morning to the Thomas Laubach Research Conference.
The topic of Powell’s presentation will be the review the central bank is conducting this year of its policy framework. Conducted every five years, the framework review helps provide officials with a blueprint for monetary policy ahead.
Following the last review, the Fed outlined a policy that became known as flexible average inflation targeting. The move was a stated intent to allow inflation to run slightly over the central bank’s 2% target for a period of time in the interest of providing full and inclusive employment across the economy, including for race and gender.
However, a year later inflation began to escalate, eventually hitting a 40-year high and forcing the Fed into a series of aggressive interest rate increases.
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