Federal Reserve Announces 'Robust Updating' Of Inflation Policy As Job Market Stagnates

The stock market opened higher on Thursday after Federal Reserve Chair Jerome Powell announced a major shift in inflation policy. The Fed will allow inflation to rise about their 2% targets, defying the previous orthodoxy.

The move comes after another jobs report showed only minimal gains against historically high unemployment.

NPR's Scott Horsley discusses the latest on the economy with host Jeremy Hobson.