JACKSON HOLE, Wyo.—New research from the Federal Reserve, posted ahead of a speech Friday by Chairman Jerome Powell, warns policy makers against placing too little attention on potential effects of very low unemployment on inflation. Mr. Powell cited the work in his speech Friday morning to the annual gathering of central bankers at the Kansas City Fed’s symposium in Jackson Hole, Wyo. But he didn’t seem to place as heavy an emphasis on the authors’ conclusion. Instead, he said the research showed “no single, simple approach...

Source: Wall Street Journal August 24, 2018 09:33 UTC