In a highly anticipated speech on Thursday, Federal Reserve Chair Jerome Powell announced a widely expected shift with regard to the price-stability side of the central bank's dual mandate.
Powell revealed in a live-streamed speech to the Jackson Hole economic symposium that the Fed will change its approach to a "flexible form of average inflation targeting."
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.