Inflation jeopardizes the Fed’s goal for inclusive employment

“Broad-based and inclusive.” That’s how officials at the Federal Reserve have taken to describing the maximum employment mandate Congress handed the central bank in 1977. The addition of those modifiers is a shift that came about as part of a 20-month review of the Fed’s monetary policy framework that culminated last summer against the backdrop of a national reckoning on race sparked by the killing of George Floyd.

Source: Bloomberg