Bullard Says Fed Has to Be Nimble Coming Out of the Pandemic

The transcript discusses a new inflation framework allowing inflation to exceed targets temporarily. It projects headline PCE inflation at 3.4% and core PCE at 3% for 2021, with some persistence into 2022. The speaker emphasizes the need for readiness to address potential inflation risks and highlights the importance of nimbleness in economic policy, similar to the response during the pandemic.

What is the significance of the speech given at Jackson Hole last year?

What does the speaker suggest about being nimble in response to inflation?