Aug.19 — Joachim Fels, global economic adviser at Pacific Investment Management Co. (Pimco), says the Federal Reserve will adopt an “opportunistic reflation strategy” where they are willing to overshoot the inflation target to make up for past undershoots. He speaks with Bloomberg’s Taylor Riggs on “Bloomberg The Open.”
In This Story: Inflation
In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.
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In This Story: Pacific
The Pacific Ocean is the largest and deepest of Earth’s oceanic divisions. It extends from the Arctic Ocean in the north to the Southern Ocean in the south and is bounded by the continents of Asia and Australia in the west and the Americas in the east
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