From Inflation to Employment: The Fed’s New Priority After the Jackson Hole Speech
On August 22, we likely witnessed Jerome Powell’s final Jackson Hole appearance as head of the Federal Reserve (Fed). As usual, his speech covered key topics: inflation, the labor market, and economic growth. However, this time there was a special emphasis on something that often goes unnoticed: the importance of distinguishing between cyclical and structural factors when crafting monetary policy. Gradually, the Fed’s focus seems to be … Continued
