Powell's Econ 101: Jobs not inflation. And forget about the money supply
Contributed by NAMPA / Reuters.
By Howard Schneider
WASHINGTON, Feb 23 (Reuters) - In a congressional hearing
dominated by talk of the pandemic and what may be needed to heal
the economy from its effects, Fed Chair Jerome Powell on Tuesday
had a subtle message for U.S. senators evaluating their options.
Toss out the college textbooks, because the world has
The unemployment rate? Forget it. The Fed only cares about
the number of people working and how to get it higher, not an