Federal Reserve Chairman Jerome Powell describes the central bank’s new interest rate guidance as powerful, but the new regime’s rollout has been buffeted by high profile dissension and conflicting comments.
Last Wednesday, the Fed built on its shift announced in late August that it would allow inflation to go over 2% to make up for periods where it had run short. The new system says rates will stay at the near-zero level they hit in March until the job market has reached maximum strength and inflation is rising and on track…
