WASHINGTON, Aug. 27 (Xinhua) -- U.S. Federal Reserve Chairman Jerome Powell announced on Thursday that the central bank will seek to achieve inflation that averages 2 percent over time, a new strategy for carrying out monetary policy to help fight the COVID-19 pandemic and boost economic recovery.
"Therefore, following periods when inflation has been running below 2 percent, appropriate monetary policy will likely aim to achieve inflation moderately above 2 percent for some time," Powell said in remarks to the Kansas City Fed's annual Jackson Hole research conference, which is being held virtually this year because of the pandemic.
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