Is the Fed Trying to Keep the Inflation Target at 3%?

The FOMC is unusual among central banks where they also have a maximum employment mandate. I think it's because the labor market is so strong, especially in light of high inflation. But this year, the tide is turning very, very quickly. If you look at the Gallup polling, for example, inflation became such a concern for Americans. It reached sort of 1980s levels of anxiety.

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