In March 2021, Fed Chair Powell gave the following response to a reporters question: When we seek
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In March 2021, Fed Chair Powell gave the following response to a reporter’s question: “When we seek to achieve low unemployment, high levels of employment, which is our mandate, you know, we think we have the freedom to do that based on the data without worrying too much about inflation.” In March 2021, why did Powell believe that the FOMC did not need to worry about inflation? Did his view turn out to be correct? Briefly explain.
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