Is There Evidence of a Change in the Fed Framework?

Aseem Malhotra: Is there evidence of a significant change in thinking? Or is it? Is it pretty marginal? He says the fed has behaved meaning different than they otherwise would have. The new framework that was unveiled o august 20 20 at jackson hall, tolerates some overshoot of inflation to do a better job of hitting its employment goes. There's no reason to expect that to reverse some of the other areas, though, we'll have to think through how that's going to be captured and an factored into measures of inflation as they get more government support.