Fed head Powell spoke Tuesday – recap “Toss out the college textbooks, because the world has changed”

Reuters have a recap posted that makes the points:
  • The unemployment rate? Forget it. The Fed only cares about the number of people working and how to get it higher
  • Inflation? Not a problem anytime soon. 
  • on U.S. infrastructure, Powell set aside classic concerns of hefty government borrowing driving up prices and responded “this is not a problem for this time as near as I can figure.”
Here is the link for more, good stuff and worth a read.