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How the fed lost its faith in full employment

from The New York Times

Officials cut interest rates three times in 2019 as inflation came in weaker than they had hoped and as global economic risks loomed large. The Federal Reserve has made it clear that policymakers are now in no hurry to put the brakes back on the economy while inflation is low, even if the job market looks hot on paper. That is partly because it isn’t clear where the labor market’s limits now lie. more

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