coming from Jeff Cox of CNBC

Federal Reserve Chair Jerome Powell spoke Thursday at the annual Jackson Hole conference convened by the Kansas City Fed, which was virtual this year due to COVID-19.

In the highly anticipated speech, Powell laid out a number of key changes to how the Fed approaches unemployment and inflation.

In a move that Chairman Jerome Powell called a “robust updating” of Fed policy, the central bank formally agreed to a policy of “average inflation targeting.” That means it will allow inflation to run “moderately” above the Fed’s 2% goal “…