Bullard challenges ‘backward-looking’ language in Fed statement on goals

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An element of the Federal Reserve's statement on longer-run goals is "insufficiently forward-looking", according to James Bullard, who says he "dissented" on recent changes.

In its January meeting, the Federal Open Market Committee (FOMC) approved an updated version of the statement, which described the Fed's inflation target of 2% as "symmetric" for the first time. A second addition "would be concerned if inflation were running persistently above or below this objective".

Federal Reserve Bank

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