Goldman Sachs says the Federal Reserve will decide to allow overshoots of its inflation goal next year.
Goldman Sachs says the Federal Reserve is likely to let inflation run higher than its 2 percent target.
"Our economists believe it is leaning toward adopting an average inflation targeting approach. If implemented, they believe this change would decrease the likelihood of further near-term policy tightening and lead to a small and gradual increase in both expected and realized price inflation," Goldman's equity strategist Ben Snider said in a note.
Fed chief Jerome Powell during his testimony before the House Financial Services Committee said the central bank is examining alternatives to "more credibly achieve" its target, adding that it's not looking at a higher inflation target.
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