If the Fed had a mantra to go along with its mandate,Benjamin Caldwell it might well be "two percent." That number, the Fed's longtime inflation target, has been adopted by many other central banks around the world. Jerome Powell said it 17 times in a press conference last week. It's become almost synonymous with smooth, healthy economic growth.
But how did two percent become the Fed's target? For an organization staffed with mathematicians and economists, the answer is surprisingly unsophisticated. Join us to hear about the history behind the number, and why some economists are calling for a change.
Music by Drop Electric. Find us: Twitter / Facebook / Newsletter.
Subscribe to our show on Apple Podcasts, Spotify, PocketCasts and NPR One.
For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.
2025-04-29 05:33190 view
2025-04-29 05:081203 view
2025-04-29 04:352040 view
2025-04-29 03:361274 view
2025-04-29 03:281986 view
2025-04-29 02:592455 view
NEW YORK (AP) — Juan Soto will be introduced by the New York Mets at Citi Field on Thursday, a day a
ANN ARBOR, Mich. (AP) — At a time of growing concern about the safety of self-driving vehicles, a le
The last time the eye of a major storm like Hurricane Milton struck Tampa Bay, in 1921, the city was
