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Fed's new policy shift to have no major impact, say economists: Reuters poll

Reuters
Reuters9/11/2020 09:38 AM GMT+08  • 4 min read
Fed's new policy shift to have no major impact, say economists: Reuters poll
The US Federal Reserve’s latest policy shift will not have any significant impact on the economy: Reuters poll
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The US Federal Reserve’s latest policy shift will not have any significant impact on the economy, according to a majority of economists in a Reuters poll who do not expect the central bank to meet its dual mandate until 2023 at least.

In a landmark shift to a more tolerant stance on inflation, the Fed’s new monetary policy strategy pledged to address maximum employment by letting inflation run above its 2% target and suggested interest rates would stay near zero for years to come.

But the Sept. 8-10 poll showed the Fed’s preferred inflation gauge - the core Personal Consumption Expenditures (PCE) price index - was forecast to average 1.3% this year, 1.5% next and 1.7% in 2022, largely unchanged from the previous poll.

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