The Fed's New Acronym: FAIT.
Whenever the Federal Reserve invents a new Acronym you know something big is up.
And that's certainly the case today.
The new Acronym, and hence new Fed monetary policy was introduced a little over a month ago at the Fed's annual Policy Symposium.
The Acronym is FAIT, pronounced I believe FA – IT. And stands for Flexible Average Inflation Targeting.
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