Core Viewpoint - The Federal Reserve, led by Chairman Powell, has adopted a new policy framework that incorporates a flexible inflation target and has eliminated the inflation "compensation" strategy [1] Group 1: Policy Changes - The Federal Reserve unanimously approved a new policy framework aimed at adapting to various economic conditions [1] - The previous framework was criticized for overemphasizing specific economic conditions, which may have led to confusion [1] Group 2: Employment and Policy Tightening - The Federal Reserve believes that merely estimating employment levels exceeding their maximum sustainable level does not necessarily require tightening of policies [1]

Core Viewpoint - The Federal Reserve has unanimously adopted a new policy framework that implements a flexible inflation targeting system and has eliminated the inflation "compensation" strategy [1] Group 1 - The new policy framework allows for more flexibility in managing inflation targets, which may lead to a more accommodative monetary policy [1] - The decision to remove the inflation "compensation" strategy indicates a shift towards prioritizing stable inflation over previous approaches [1]