a652a001bcda4c2eb02989212f9233

a652a001bcda4c2eb02989212f9233 Updated 

The Federal Reserve recently moved to switch to average inflation targeting. It's easier to understand this in relation to what it was before. Before, they targeted inflation each cycle. They didn't worry about unemployment too much, because of the so-called relationship between inflation and unemployment, the Phillips Curve. They thought that if they targeted a...