Federal Reserve Chair Powell: Inflation Well Above 2% Target, No Dot Plot Guidance Provided Today

BlockBeats News, June 18, Federal Reserve Chair Powell stated that the goal is to correctly implement monetary policy amid inflation well above the 2% target. Recent history should not be a prelude to an inflation problem, with no (dot plot) projections provided today. Agreement that forward guidance is not very suitable for the current situation. A working group is appointed in five areas of monetary policy. The working group's focus includes communication and balance sheet, data sources, productivity and employment, and inflation framework, among others. The communication group may reshape the dot plot. (FXStreet)