Federal Reserve says it wants things to cost more for Americans. Here s why that could be good.
and last updated 2021-04-28 14:56:39-04
On Wednesday, the Federal Reserve will meet for what could be the last time before the central bank decides how and when it will start rolling back policies it adopted to combat the effects of the pandemic.
At a meeting last week, Fed chair Jerome Powell said the government would like to see inflation stay above average for âsome time.â
For many Americans, that might sound like an ominous proposal as it would mean things like groceries, restaurant bills, and leisure activities would all cost more, but Robert Scott, a senior economist with the Economic Policy Institute, says higher inflation is actually a good thing.