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The Fed: Inflation has already cleared hurdle for rate hike, but employment criteria not met yet: Fed’s Mester

The Fed: Inflation has already cleared hurdle for rate hike, but employment criteria not met yet: Fed's Mester

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In August 2020, the Federal Reserve adopted a new framework that made clear the central bank wouldn’t raise its benchmark interest rate until inflation rose so that it averaged 2% over time, to make up for years when inflation was under that level.

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