Aug.27 — Federal Reserve Chairman Jerome Powell says the Fed will take a more relaxed stance on inflation. He speaks during a speech delivered virtually for the central bank’s annual policy symposium traditionally held in Jackson Hole, Wyoming.
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.