If the Fed had to set its inflation target today, it would choose 3% or 4%, rather than 2%, but "it is very difficult to change a target when you have missed it for so long. ... The minute you do that, your credibility is hit even harder."
The president reportedly wanted to fire the Fed chairman but “now” knows he can't do so without cause.
DebugScreen: mobile
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"title": "Is It Too Late to Fix the Low Inflation Target?",
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"summary": "If the Fed had to set its inflation target today, it would choose 3% or 4%, rather than 2%, but \"it is very difficult to change a target when you have missed it for so long. ... The minute you do that, your credibility is hit even harder.\"",
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"uri": "/2019/01/05/powell-says-he-wouldnt-resign-at-trumps-request/",
"title": "Powell Says He Wouldn't Resign at Trump's Request",
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