Bessenet: Suggests that the Federal Reserve modify the 2% inflation target to a range of 1.5%-2.5% or 1%-3%
U.S. Treasury Secretary Janet Yellen suggested re-evaluating the Federal Reserve's inflation target after the inflation rate falls to 2%, considering adjusting it to a range of 1.5%-2.5% or 1%-3%. She pointed out that public concerns about the cost of living are related to high prices during the Biden administration
U.S. Treasury Secretary Becerra supports re-evaluating the Federal Reserve's inflation target after the inflation rate steadily falls to 2%. Becerra suggests that once the inflation target is re-anchored, it could be discussed to change it to a range, such as 1.5%-2.5% or 1%-3%. Becerra acknowledges the public's concerns about the cost of living, stating, "We understand that the American people are deeply in pain," attributing it to the high prices during the Biden administration.
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